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Grindrod announces black empowerment shipping deal
GRINDROD LIMITED
(Registration number: 1966/0009846/06)
Share code: GND
ISIN: ZAE000052247
19.04.2005
Press announcement
`Grindrod announces black empowerment shipping deal`
Grindrod Limited SA`s leading freight and logistics company announced today a
reconfiguration of its empowerment partners in the shipping industry.
Southern Tankers which has on charter the Southern Unity to BP and Shell has
reconfigured its empowerment partners with the introduction of Holgoun Maritime
Consortium led by Sivi Gounden, who have a 25,1% share in the business. The
business will change its name to Grindrod Shipping, which reflects the
broadening of its mission to encompass other shipping activities.
The consortium consists of Uluntu Holdings, Broad Based Women`s Group, Sivi
Gounden, Hassen Adams, Nomazizi Mtshotshisa, J&J Group and Sechaba Burial
Society.
Ivan Clark, managing director of Grindrod said that it was important to
reconfigure the consortium and to introduce a broad based and influential
empowerment group into its South African shipping interests.
He went on to say the same consortium will take up interests in its other South
African shipping operations as well as related business in the shipping
industry.
He said `Grindrod`s is a major player in South African shipping, and is a
totally South African based company. With the introduction of broad based and
influential partners it is aimed to develop its South African interests and to
further its already well advanced infrastructure of shipping operations, which
employed a substantial number of South Africans in its local landbased
operations and on board its ships`.
Grindrod has over many years supported the training of South African seagoing
officers and crew and would continue to do this going into the future. It
continues to support maritime education, both at school and tertiary levels and
to assist to support international maritime organizations such as the Institute
of Chartered Shipbrokers, International Sailors Society and NSRI and many other
organizations involved in maritime matters in South Africa.
Clark said, this partnership is yet another step in Grindrods stated intentions
of supporting the South African maritime industry.
He went on to add - current endeavours to make South Africa more friendly to
international and local shipowners and operators such as fiscal and legal
changes and the employment of South Africans on ships worldwide was welcomed and
that Grindrod would develop this initiative with all players in the industry on
a co-operation basis.
Sivi Gounden who heads up the black empowerment consortium interests went on to
say that this was a powerful and important step forward for his consortium into
South African shipping and that they looked forward to not only introducing
black economic empowerment but substantial value to the commercial and economic
growth of the industry.
Issued by : Grindrod Ltd
Contact: Ivan Clark, MD
(031) 3041451
Date: 20/04/2005 03:06:12 PM
Produced by the JSE SENS Department
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