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Group Five Business Establishes Largest South African Empowered Engineering

Release Date: 19/02/2003 12:00
Code(s): GRF
Wrap Text

Group Five Business Establishes Largest South African Empowered Engineering Merchant Company Group Five Limited Reg. No. 1969/000032/06 Share Code: GRF ISIN: ZAE 000027405 Sasol and Group Five today announced that their manufacturing business, DPI Plastics (Pty) Ltd (DPI), has established one of the leading black empowerment engineering merchant companies in South Africa. This follows DPI`s successful alliance with Incledon (Pty) Ltd, a leading black empowerment engineering merchant company. The new company, Incledon-DPI, will have a turnover in excess of R400 million with 74% of the shares held by Incledon. DPI Plastics (Pty) Ltd (DPI) is wholly owned by DPI Holdings, which is jointly owned by Group Five Ltd and Sasol Limited. DPI is the leading manufacturer and marketer of plastic piping systems in Southern Africa. Incledon (Pty) Ltd, operates as a wholesaler and project supplier to the Civil, Mining, Engineering, Industrial, Municipal and Agricultural markets. "Group Five believes that the empowerment of historically disadvantaged individuals is not about boardroom talk, but about practical examples and real results. We have set out clear guidelines and requirements for the Group`s operations regarding black empowerment initiatives. A core principle of our empowerment strategy is pursuing joint ventures with historically disadvantaged businesses and Incledon-DPI fits that strategy perfectly," said Group Five CEO Mike Lomas. Sasol Chief Executive, Pieter Cox says; "Sasol`s empowerment programme is structured to deliver tangible results and is focused primarily on helping to create sustainable new black empowerment businesses in the mainstream South African economy. We will continue to facilitate the participation of people from historically disadvantaged groups in the South African economy to advance economic diversification and democratisation". Incledon-DPI (Pty) Ltd will be able to provide total solutions to the large and emerging contracting market. With its in-house technical expertise in all aspects of pipeline design and installation, the full spectrum of customer needs will be satisfied through a one-stop-shop concept. "We are really proud of creating Incledon-DPI. It is the result of a deliberate, pro-active strategy to support the transformation of business ownership and the economic empowerment of historically disadvantaged individuals," said Incledon- DPI Managing Director Rashid Moosa. Incledon-DPI (Pty) Ltd will have branches in Johannesburg, Evander, Nelspruit, Polokwane and Bloemfontein. The new company will continue supplying a variety of engineering components and pipeline solutions to the industrial, irrigation, construction and mining market sectors. The companies have already combined their businesses in Nelspruit, Bloemfontein and Johannesburg. The new company started trading on 1 February 2003. Brunswick SA (011) 268 5750 Heidi Geldenhuys 083 325 8924 Taryn Proksch 083 273 1301 Enquiries: Mike Lomas, Group Five CEO (011) 806 0245 Rashid Moosa, MD Incledon-DPI (011) 405 4000 Date: 19/02/2003 12:00:00 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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