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Aeci - Chemical Services Limited Concludes Empowerment Transaction With The Tiso

Release Date: 29/08/2005 08:22:02      Code(s): AFE
AECI - Chemical Services Limited concludes empowerment transaction with the Tiso
AECI LIMITED                                                                    
Incorporated in the Republic of South Africa                                    
(Registration No. 1924/002590/06)                                               
Share code: AFE                                                                 
ISIN No. ZAE000000220                                                           
29 August 2005                                                                  
The sale of a 25.1 percent interest in ImproChem (Pty) Limited (ImproChem) to   
the Tiso Group (Tiso) has been concluded for a total consideration of R94       
ImproChem is a leader in the supply of products and services to the water       
management and hydrocarbon processing sectors.  The company serves any industry 
where water, energy and efficiency are of primary importance, including         
electronics, food and beverage processing, chemicals, petroleum and refining,   
steel, mining, power generation, metalworking and others.  It offers on-site    
solutions by providing products, services, equipment and technologies that      
enhance the profitability of its customers" business operations.  A licence     
agreement with the Nalco Company of the USA, the global leader in water         
treatment, ensures access to advanced technology and expertise.                 
ImproChem is a subsidiary of speciality chemicals group Chemical Services       
Limited (Chemserve), a member of the AECI Group (AECI).  ImproChem"s            
manufacturing facilities are at Umbogintwini, south of Durban, and the company  
has offices across South Africa and in Kenya, Mauritius, Namibia, Zambia and    
The agreement reached is the second empowerment transaction concluded between   
AECI and Tiso and builds on the relationships established with Tiso"s           
acquisition of 25.1 per cent of African Explosives Limited (AEL) in 2004.  It is
in line with commitments made at that time whereby Tiso would be afforded first 
option to take up future empowerment participation opportunities in the AECI    
Tiso views its newly-acquired stake in ImproChem as a long-term strategic       
holding and, as in the case of its involvement in AEL, a step in developing a   
long-term partnership with AECI.                                                
This is the most significant economic empowerment transaction concluded at      
operating company level within Chemserve and is thus a milestone for the group. 
The partnership takes effect on 1 September 2005.  Nkululeko Sowazi, Mbonisi    
Danisa and Peter van Kerckhoven (Alternate) from Tiso will join Louis du Toit   
(Managing Director), Johan Kuhn and Mark Dytor (Chairman) on the Board of       
Enquiries:               ImproChem (Pty) Limited                                
Louis du Toit, Managing Director                                                
                               011 971 0400 or e-mail: improchem@improchem.co.za
Chemical Services Limited                                                       
Frank Baker, Managing Director                                                  
011 548 4610                                     
Tiso Group (Pty) Limited                                                        
Nkululeko Sowazi, Deputy Chairman                                               
Fani Titi, Chairman                                                             
011 549 2400                                     
Date: 29/08/2005 08:22:04 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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