| Mon 24 Feb 2003, 11:33 | | Anglo American Plc - Zimele Invests In Kganya Hydr |
|
ANGLO AMERICAN PLC
JSE Code: AGL
ISIN Code: GB0004901517
(The "Company")
24 FEBRUARY 2003
ZIMELE INVESTS IN KGANYA HYDRAULICS AND PNEUMATICS
Zimele, Anglo American`s business development and empowerment initiative, has
joined forces with Aero Fluid Power (Pty) Ltd to form an empowerment venture
Kganya Hydraulics and Pneumatics (Pty) Ltd. Kganya, with an estimated annual
turnover of R4,5 million, will supply and maintain hydraulic fittings and pipes
in the mining and industrial sectors within the Vaal Triangle.
Patricia Young, owner of Aero Fluid Power (Pty) Ltd, identified an opportunity
to form an empowerment company and, together with Zimele, approached Erica
Mokone. Erica joined Aero Fluid Power in 2000 where she handled debtors and
creditors, accounting and general office administration.
Kganya, based in Vereeniging, has appointed Patricia Young as managing director
and Louwrens de Jager, senior business development manager of Zimele, as non-
executive chairman of the venture. Young acquires 35% shareholding while Mokone
and Gerhard Kotze, sales director for Kganya, hold a 30% and 15% stake
respectively. Zimele holds the remaining 20%.
Eaton Aeroquip, which currently holds the contract for Anglo Coal for the supply
of hydraulic hoses and fittings, has appointed Kganya as the sole distributor in
the Vereeniging area. "With Eaton Aeroquip as a technical partner in this
venture and the support of Zimele`s business development team, Kganya has a
distinct advantage over its competitors," says Young.
Kganya will be commissioned for the service, supply and maintenance of hydraulic
pipes and fittings at a number of collieries and industrial operations in the
Vaal Triangle area.
This is one of two new investments announced in conjunction with the release of
the Anglo American Group`s BEE procurement and small and medium enterprise (SME)
development results. Anglo American`s divisions and operations (including
independently managed subsidiary AngloGold) concluded in excess of R2.4 billion
in transactions with black-owned SMES and through their various business
development initiatives.
Ends
Media queries:
Anglo American
Marion Dixon
Tel: 011 638 3001
Cell: 082 775 5520
madixon@angloamerican.co.za
Zimele
Samantha Hunt
Tel: 011 849 7699
Cell: 082 452 2566
Email: sam@frogcomm.co.za
Note to the editors:
Zimele - the enterprise development and empowerment initiative of Anglo American
- has for over a decade created sustainable, commercially viable businesses. The
success of Zimele`s approach to its investments hinges upon a relationship
between stable funding structures, through equity and loans, and managerial,
legal and technical support, through skills transfer between the business
partners and the guidance of its business development team.
During 2002, Zimele`s 21 investments, which collectively employ over 1000
people, generated a turnover of R173 million, an 19% improvement on the year
2001 figure of R145 million.
Zimele continues to work together with the Anglo American divisions and
operations to evaluate new procurement and outsourcing opportunities with the
SME sector.
www.zimele.co.za
Date: 24/02/2003 11:20:41 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
