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ACE - Accentuate Limited - Voluntary announcement of a joint venture with Ion
Exchange
Accentuate Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2004/029691/06)
(Share Code: ACE ISIN Code: ZAE000115986)
("Accentuate" or "the Company")
VOLUNTARY ANNOUNCEMENT OF A JOINT VENTURE WITH ION EXCHANGE
INTRODUCTION
The Directors of Accentuate are pleased to announce the formal signing and
conclusion of a joint venture agreement between Indian-based water treatment
company, Ion Exchange (India) Ltd ("Ion Exchange") and Safic (Pty) Ltd
("Safic"), a wholly owned subsidiary of Accentuate. The joint venture will be
known as Ion Exchange-Safic (Pty) Limited with ownership being 60% held by Ion
Exchange India and 40% by Safic.
ION EXCHANGE (INDIA) LTD
Ion Exchange India has pioneered water treatment in India and is today the
premier company in water and environment management in India, with a strong
international presence. Formed in 1964, as a subsidiary of the Permutit Company
of UK, it became a wholly Indian owned company in 1985 when Permutit divested
their holding. Currently Ion Exchange employs in excess of 1,600 people, and has
multi-disciplinary teams of highly experienced professional managers,
technologists and scientists who are supported by infrastructure across India
and abroad.
Leadership in the area of water management has been obtained through a sustained
focus on:
* Technological advancement through research and development;
* International Affiliations;
* Human resource development;
* Commitment to customer care; and
* Technical service support.
In its 47 years of experience, the company has provided installations for
diverse industries in India and abroad, from nuclear and thermal power,
fertiliser and refinery, to automobile, electronics and textile. Some of the
installations include:
More than 50,000 plants in India and abroad; packaged, pre-engineered and custom
built.
Over 400 major installations at thermal and nuclear power stations, fertiliser
factories, refineries, petrochemical and other industries.
Over US$30 million worth projects in India on global tender basis and many
projects abroad.
Exports of equipment, Ion exchange resins, membranes and water treatment
chemicals to Japan, South East Asia, USA, Europe, Africa, Egypt, Middle East,
Russia, Bangladesh, Nepal, Mauritius and Sri Lanka.
RATIONALE FOR THE JOINT VENTURE
It has long been Accentuate`s stated objective to increase the annuity and
organic contribution made to the Group by Safic.
Ion Exchange India has extensive experience in the provision of water technology
with developing economies. In addition to an impressive base of proprietary
technologies, Ion Exchange has partnered with leading global companies to
provide a comprehensive product and service offering encompassing the varied
needs associated with water treatment.
Safic has an extensive customer base, distribution channels and a thirty year
reputation for quality and service within the Southern African region. In
addition to providing access to an existing customer base, Safic will also
provide administrative and logistics support to the venture ensuring an
efficient and effective go to market strategy.
South Africa has identified the need for a focused approach to the management of
scarce water resources, with much attention from both Government and the Private
Sector centered on the responsible use of water. Aging water infrastructure and
challenges relating to historical activity within areas such as the mining
industry and general industry has identified the need for massive intervention
in the management of water as a strategic resource.
Thebe Investment Corporation, as a leading empowerment organisation, will
provide the necessary credentials and guidance regarding issues of skills
transfer, transformation and sustainable development within both the South and
Southern African region.
Market penetration will be concentrated on the South Africa and SADC region
where the service offering will include:
Strategic concept-to-completion guidance and consultancy
Turnkey water management
Assured supply and quality of water
Superior price performance ratios and production efficiencies
Single point responsibility enabling greater customer focus on core business
Lower cost and effective use of capital employed
Creative ownership options
Environmentally responsive solutions
EFFECTIVE DATE
The effective date of the agreement will be 1 July 2012. The joint venture will
be established in Johannesburg with offices operating from the Accentuate
premises in Steeldale.
For further information please visit www.accentuateltd.co.za or
www.ionexchangesafic.co.za or www.ionindia.com/
CATEGORISATION OF TRANSACTION
In terms of the JSE Listings Requirements, the transaction is below the
classification of a category 2 transaction.
19 June 2012
Johannesburg
Designated Adviser and Corporate Advisor: Bridge Capital Advisors (Pty) Ltd
Date: 19/06/2012 07:05:03 Supplied by www.sharenet.co.za
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