Nampak Limited - Foreign investment in Nampak Glass: Press Release

Nampak Limited - Foreign investment in Nampak Glass: Press Release              
NAMPAK LIMITED                                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 1968/008070/06)                                            
("Nampak")                                                                      
ISIN: ZAE000004933                                                              
Share code: NPK                                                                 
PRESS RELEASE                                                                   
FOREIGN INVESTMENT IN NAMPAK GLASS                                              
Johannesburg, Monday 3rd October 2005: Nampak"s glass business is set to receive
a significant boost, with the announcement that the company has entered into a  
joint venture with Wiegand-Glas, one of Germany"s most respected glass          
manufacturers.                                                                  
Agreement in principle was reached today, whereby Wiegand-Glas will acquire a   
50% stake in Nampak Glass for 18 million Euros.  Fundamental to the agreement is
a commitment towards a substantial investment programme in the business, aimed  
at upgrading and enhancing current production facilities and some capacity      
expansion.  The parties have agreed to a further investment of approximately    
R320-million over the next three years.  Furthermore Nampak and Wiegand-Glas    
have agreed to explore expansion opportunities.                                 
The transaction has been approved by the local competition authorities and the  
company will be known as Nampak Wiegand Glass.                                  
Wiegand-Glas is totally committed to the development of local skills.  As part  
of the investment initiative, the company will allocate German resources to     
South Africa to impart technical knowledge, experience and expertise to people  
within Nampak"s existing glass operation.                                       
For Wiegand-Glas, which boasts a history dating back to 1593, the deal with     
Nampak is the company"s first in Africa.  Wiegand-Glas operates two glass plants
in Germany, with an annual capacity of five hundred thousand tonnes.            
According to Wiegand-Glas" Joint Managing Director, Nikolaus Wiegand, the       
company is "delighted" to have formalised its relationship with Nampak and sees 
this as an exciting opportunity to become part of the Southern African glass    
market.                                                                         
At Nampak, sentiment around the transaction is equally upbeat. The company"s    
Managing Director for Africa, Neil Cumming, has welcomed the deal and says that 
he"s looking forward to seeing the benefits accrue to Nampak"s customers,       
specifically in terms of the access to the latest technology and world-class    
innovative capability.                                                          
"The influx of skills and the ability to develop local talent is equally        
exciting," adds Neil. "We believe we"ve managed to cement a partnership that"s  
good for our people, our customers and our products."                           
The move, he said, is a firm indication of Nampak"s intention to increase its   
presence in South Africa"s growing glass market.                                
Johannesburg                                                                    
3 October 2005                                                                  
Date: 03/10/2005 01:13:05 PM Supplied by www.sharenet.co.za                     
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