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LAF
LOLAF
LAF - Lonrho Africa Plc - Lonrho Taps Into The African Water Industry
Lonrho Africa Plc
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
LONRHO TAPS INTO THE AFRICAN WATER INDUSTRY
Lonrho is pleased to announce that it has exchanged contracts to acquire 100% of
Strenner Holding Limited ("Strenner"), a private company registered in
Switzerland, for a cash consideration of US$215,000. Strenner owns 50% of the
issued share capital of Swissta Holding Limited ("Swissta"), which invests in
water-related businesses in Mozambique and the Democratic Republic of Congo.
David Lenigas will be appointed as Chairman of Strenner and Strenner`s co-
founders, Michael Strehler and David Brunner, will continue to run the business.
Swissta Mozambique Lda, a subsidiary of Swissta, operates a water bottling plant
which has been in production since April 2006 and has since captured some 30% of
Maputo`s bottled water market. The plant currently produces, 0.5 litre, 1
litre, 1.5 litre, 5 litre and 18.9 litre (5 gallon) bottles and sells some
200,000 litres of water per month, the equivalent of 5 million half litre
bottles of water a year.
Swissta RDC SpRL, an associated company of Swissta, situated in the Democratic
Republic of Congo, has been in production since June 2006 and produces similar
amounts of bottled water with the same product range.
The bottling plants work to the highest international standards for bottled
water and water related products. Swissta has also recently launched sugar-free
flavoured water as a healthy alternative to soft drinks.
In addition to this business acquisition, Lonrho, Michael Strehler and David
Brunner have entered into a conditional shareholders` agreement. This agreement
will outline the business model going forward, developing water-bottling plants
and water related businesses throughout Africa.
David Lenigas, Lonrho`s Joint Executive Chairman and Chief Executive of Lonrho,
commented:
"This investment in Strenner fits in with Lonrho`s strategy of investing in
growth businesses that will make a difference to Africa and launches Lonrho`s
water division.
The provision of affordable and safe drinking water is a key step towards
improving the health of any population. Our ultimate objective is to lower the
dependency on expensive imported water which has negative economic as well as
ecological consequences."
Michael Strehler commented:
"We are delighted to have been able to attract investment from a company such as
Lonrho. Lonrho`s involvement will accelerate plans to develop local plants in
major centres throughout Africa. Our approach is to assist in improving local
economies by providing training and skilled job opportunities while working with
the latest technologies in beverage processing."
26 January 2007
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 29/01/2007 08:29:24 Produced by the JSE SENS Department.
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