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Afrimat follows turnaround with diversification into high margin industrial minerals

JSE Main Board-listed construction materials supplier, Afrimat, today continued its positive growth trend when it announced the R35 million acquisition of the Glen Douglas dolomite mine from Exxaro Resources Limited. The acquisition marks the first step in the group’s diversification into complementary industries in order to expand revenue streams, boost…

Afrimat expands for growth during interim period

During the six months to August 2008 construction materials supplier Afrimat Limited increased exposure to government’s multi-billion Rand infrastructure spend with organic expansion initiatives and a strategic acquisition of a further quarry and readymix plant in KwaZulu-Natal. The group’s growth projects included commissioning new quarries and plants as well as…

Afrimat deal with Mvelephanda boosts BEE over 25,1%

JSE Main Board construction materials supplier, Afrimat Limited, today introduced a consortium (“the consortium”) led by Mvelaphanda Holdings (Pty) Limited (“Mvela”) as the group’s new BEE partner. The deal currently gives the consortium options to purchase up to 27,8 million shares in aggregate over the next three years, taking Afrimat’s…

Afrimat more than doubles earnings

JSE black empowered construction materials supply group Afrimat, has more than doubled headline earnings from this time last year to R47,6 million for the six months to August 2007. The interim period saw the group conclude two earnings-enhancing acquisitions – of Malans Quarries and Scottburgh Quarries – bolstering Afrimat’s long-standing…

Tanya Pretorius

Afrimat: Head of Communications
Tanya.pretorius@afrimat.co.za

Vanessa Ingram

Keyter Rech Investor Solutions
Vrech@kris.co.za