| Wed 19 Feb 2003, 12:07 | | Group Five Business Establishes Largest South Afri |
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Group Five Limited
Reg. No. 1969/000032/06
Share Code: GRF ISIN: ZAE 000027405
Sasol and Group Five today announced that their manufacturing business, DPI
Plastics (Pty) Ltd (DPI), has established one of the leading black empowerment
engineering merchant companies in South Africa. This follows DPI`s successful
alliance with Incledon (Pty) Ltd, a leading black empowerment engineering
merchant company. The new company, Incledon-DPI, will have a turnover in excess
of R400 million with 74% of the shares held by Incledon.
DPI Plastics (Pty) Ltd (DPI) is wholly owned by DPI Holdings, which is jointly
owned by Group Five Ltd and Sasol Limited. DPI is the leading manufacturer and
marketer of plastic piping systems in Southern Africa. Incledon (Pty) Ltd,
operates as a wholesaler and project supplier to the Civil, Mining, Engineering,
Industrial, Municipal and Agricultural markets.
"Group Five believes that the empowerment of historically disadvantaged
individuals is not about boardroom talk, but about practical examples and real
results. We have set out clear guidelines and requirements for the Group`s
operations regarding black empowerment initiatives. A core principle of our
empowerment strategy is pursuing joint ventures with historically disadvantaged
businesses and Incledon-DPI fits that strategy perfectly," said Group Five CEO
Mike Lomas.
Sasol Chief Executive, Pieter Cox says; "Sasol`s empowerment programme is
structured to deliver tangible results and is focused primarily on helping to
create sustainable new black empowerment businesses in the mainstream South
African economy. We will continue to facilitate the participation of people
from historically disadvantaged groups in the South African economy to advance
economic diversification and democratisation".
Incledon-DPI (Pty) Ltd will be able to provide total solutions to the large and
emerging contracting market. With its in-house technical expertise in all
aspects of pipeline design and installation, the full spectrum of customer needs
will be satisfied through a one-stop-shop concept.
"We are really proud of creating Incledon-DPI. It is the result of a deliberate,
pro-active strategy to support the transformation of business ownership and the
economic empowerment of historically disadvantaged individuals," said Incledon-
DPI Managing Director Rashid Moosa.
Incledon-DPI (Pty) Ltd will have branches in Johannesburg, Evander, Nelspruit,
Polokwane and Bloemfontein. The new company will continue supplying a variety of
engineering components and pipeline solutions to the industrial, irrigation,
construction and mining market sectors. The companies have already combined
their businesses in Nelspruit, Bloemfontein and Johannesburg.
The new company started trading on 1 February 2003.
Brunswick SA (011) 268 5750
Heidi Geldenhuys 083 325 8924
Taryn Proksch 083 273 1301
Enquiries:
Mike Lomas, Group Five CEO (011) 806 0245
Rashid Moosa, MD Incledon-DPI (011) 405 4000
Date: 19/02/2003 12:00:00 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
