AECI Limited - Company Press Release
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
PRESS RELEASE
Chemical Services Limited (Chemserve) has reached agreement for the acquisition
of two separate businesses, for a combined consideration of about R150 million.
The companies concerned are those of UAP, comprising UAP Crop Care (Pty) Limited
and UAP Agrochemicals KwaZulu-Natal (Pty) Limited; and Chemiphos (Pty) Limited.
UAP is a distributor of agricultural chemicals, focusing on the Western Cape and
KwaZulu-Natal. Chemserve, through its subsidiary Plaaskem (Pty) Limited, wishes
to increase its capacity to supply specialist products and services to the
agricultural industry and believes that UAP will provide an excellent platform
for further growth in this market.
Chemiphos manufactures and supplies specialist polyphosphoric acid to catalyst
manufacturers, and food grade phosphoric acid to the food and beverage industry.
It also distributes products for a number of international principals. The
company meets Chemserve`s criteria for a specialist niche business with a high
service component.
Both transactions are subject to competition authority approval. The effective
dates of the transactions are expected to be 1 January 2005 for UAP and 1 March
2005 for Chemiphos.
Chemserve is a wholly-owned subsidiary of AECI Limited.
Enquiries:
Frank Baker
Managing director
Chemical Services Limited
Tel: 011 548 4610
Fax: 011 388 2465
Cell: 083 255 7069
Email: frank.baker@chemserve.co.za
Date: 06/12/2004 10:53:11 AM
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