Industry News

Southern Palace Group has signed an agreement to acquire 100% of Genrec Engineering, a steel fabrication and manufacturing business, from Murray & Roberts. “This acquisition is a continuation of Southern Palace’s strategy to be a leading, black-owned, industrial operating company particularly in the infrastructure, mining services and value-added steel manufacturing industries," comments Southern Palace CEO Lucas Tseki.

Murray & Roberts has sold its Genrec steel engineering and fabrication business to black-owned and managed Southern Palace Group for R185m. Henry Laas, Murray & Roberts group CE, said on Monday that Genrec would now have greater opportunity to unlock its order book potential in the public sector.

JSE-listed Murray & Roberts (M&R) has sold Genrec to black-owned industrial company Southern Palace Group.
Certain assets and liabilities are excluded from the transaction and will remain with the group.

Southern Palace Group today, 30 October 2017, announced it has signed an agreement to acquire 100% of Genrec Engineering, a steel fabrication and manufacturing business, from Murray & Roberts.

The newly black-owned construction company conceived from a R314-million sale agreement between engineering and construction group Murray & Roberts (M&R) and black-empowered Southern Palace Group aims to build on its 115-year heritage to become a “leading, Tier 1, Infrastructure player in South Africa and in sub-Saharan Africa” by tapping into key opportunities on the continent.

The newly black-owned construction company conceived from a R314-million sale agreement between engineering and construction group Murray & Roberts (M&R) and black-empowered Southern Palace Group aims to build on its 115-year heritage to become a “leading, Tier 1, infrastructure player in South Africa and in sub-Saharan Africa” by tapping into key opportunities on the continent.

Southern Palace Group of Companies have signed on as an Associate Sponsor of the Springboks, SA Rugby announced on Friday. In terms of the agreement, the SPG group will be entitled to have their company logo on the left panel of the Springboks’ match day and training shorts.

Safari Investments has privately placed 119,552,633 shares at R7.60 each through a combination of a specific and general issue raising R908,600,0011 in new equity, as it looks to reduce its overall debt level and to double in size in the next three years.

SOUTHERN Palace Properties, a wholly owned subsidiary of black-owned and managed diversified industrial holding company Southern Palace Group, has acquired a 7.95 percent stake in listed real estate investment trust Growthpoint Properties for about R4.5 billion.

The stake was acquired from the Government Employees Pension Fund (GEPF) through its asset manager, the Public Investment Corporation (PIC).

Anglo American plc ("Anglo American") announces the final stage of the $1.4 billion Scaw Metals Group ("Scaw") divestment with the sale of Scaw South Africa (Pty) Ltd. ("Scaw South Africa"), a leading South Africa based integrated steel maker, to an investment consortium led by the Industrial Development Corporation of South Africa ("IDC") and Anglo American's partners in Scaw South Africa (Pty) Ltd, being Izingwe Holdings (Pty) Limited, Shanduka Resources (Pty) Limited and the Southern Palace Group of Companies (Pty) Limited (collectively "the Consortium"), for a total consideration of R3.4 billion ($440 million) on a debt and cash free basis.

South Africa’s premiere independent longhaul trucking operations, boasting a combined fleet of 485 trucks. In April 2013, RTG forged a landmark deal with MAN Truck & Bus South Africa, procuring 140 MAN TGS 27.440BBS 6x4 truck-tractors to service its Rustenburg-based Chrome Carriers division.

As part of an effort to streamline management of global trademarks and brands, the "Agisson" brand name for antenna system products – including but not limited to antenna, TMA, Combiners, RCU, DC-STOP, SBT and BT – will begin to be phased out in favor of the “Huawei” brand name starting August 1, 2013. Effective December 31, 2015, the "Agisson" brand will no longer be used for any Huawei antenna system products.

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