Aveng announces early bond redemption and R1.8bn rights issue

JSE-listed construction group Aveng will implement a R1.8-billion rights offer to raise the capital needed to fund the early redemption of a portion of its existing convertible bonds of R2-billion. The rights offer will also add R300-million in new capital into the business.

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MAS acquires Romanian shopping centre

In line with the group’s strategy of investing across the broader European market, MAS Real Estate will acquire the Bucharest-based Militari shopping centre for €95-million. The property will be acquired from MD CE Holdings and Atrium Turkey Samsun, two wholly-owned subsidiaries of Atrium European Real Estate.

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Concor targets larger share of infrastructure market as part of big growth push

Wholly black-owned construction group Concor, which marked its first year of operations in April, is aiming to materially increase its share of the public infrastructure market as part of an ambitious plan to increase its order book to R10-billion by 2020. The company, which has a Level 1 Broad-Based Black Economic Empowerment rating, was formed in 2017 after Murray & Roberts (M&R) sold its infrastructure and buildings business to a consortium led by the Southern Palace Group (SPG) for R314-million.

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Exhibition tailored for the African market

The third edition of the bauma CONEXPO AFRICA, held from March 13 to 16, 2018 was a reflection of the African market and an opportunity to showcase products and new technology suited to different construction equipment segments for the African market, says Messe München MD Stefan Rummel. The event hosted 456 companies showcasing their new innovations and 14 167 visitors, with the top African visitors coming from Zimbabwe, Kenya, Botswana, Mozambique and Namibia. 13% of the visitors came from outside host country South Africa.

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Company uses expo to expand footprint in Africa

Pump hire specialist Integrated Pump Rental (IPR) exhibited at bauma CONEXPO AFRICA 2018 for the first time to increase visibility of its product offering to the construction sector in Africa. With the major portion of the company’s customer base in the mining industry, according to IPR MD Lee Vine, the company decided to exhibit units from its rental fleet that are specifically suitable to construction dewatering applications. This included Sykes dewatering pumps, Grindex slurry and solids handling pumps and the newest addition, Faggiolati stainless steel pump. Also on exhibit were pump accessories including hose flotation devices and pump flotation devices.

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Expo ideal platform for company sector expansion

With an established track record in the international mining and construction sector, engineering solutions provider Weir Minerals Africa (WMA) used bauma CONEXPO AFRICA as a platform to promote its products to the local construction sector while gaining traction in other sectors. “bauma CONEXPO AFRICA provided an opportunity for us to showcase our products to visitors from the construction and associated sectors in the region,” says WMA comminution GM Vernon Steenbok.

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Site survey recommended before installing power backup system

With the winter months approaching, systems integration specialist Jasco Intelligent Technologies (Jasco) explains that before companies invest in alternative power solutions it is important to select the right solution for their needs. Jasco renewable energy consulting solutions architect Kevin Norris says that selecting the best uninterruptible power supply (UPS) system to meet the set-out requirements is not as simple as choosing one from a catalogue or going with the solution that works best for another company. He explains that each business has unique requirements and there are a lot of factors that go into planning the right solution. 

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Local company invests in significant rental fleet expansion

Compressor and generator rental company Rand-Air has introduced 52 new generators, ranging between 60 kVa and 500 kVa, to its rental fleet. The generators arrived earlier this year from the original-equipment manufacturer and supplier Atlas Copco; and have subsequently been fitted with trailers and distribution boards permanently mounted on the generator trailer. The company installs these features to the generators to provide rental customers with optimal convenience, accessibility and mobility on-site.

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Concrete 3D printed house showcased in Milan

Multinational professional services firm Arup and US-based CLS Architects this week unveiled a new concrete three-dimensional (3D) printed house in central Milan, as part of the Salone del Mobile design festival.

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Barloworld to sell Iberian equipment business, shares hit

Barloworld will sell its underperforming Iberian equipment business to privately-owned Italian group Tesa following a strategic review. Shares in the equipment, car rental and logistics provider fell more than 7% after Wednesday’s announcement, in which Barloworld said the overall proceeds of the transaction are estimated to be R2.4-billion.

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