AVENG LIMITED

AVENG LIMITED

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Company Overview
Aveng Limited is a South African-based group focused principally in building construction and development. The company has a registered office located in Morningside, South Africa.
Aveng boasts a heritage going back to 117 years as a small construction company owned by James Thompson on the corner of Main and Rissik Streets, Johannesburg. Aveng, originally used as an abbreviation for Anglovaal Engineering, was established in 1944. Following the unbundling of Anglovaal into Avmin (mining), AVI (consumer products) and Aveng (engineering services), Aveng Limited was listed on the JSE Securities Exchange, South Africa under the Building, Construction and Engineering sector in July 1999.
Aveng holds interest in engineering, construction, mining, steel and allied cluster, and cement.
The company’s construction cluster is made up of Grinaker-LTA Construction, E+PC (Engineering & Projects Company) and Moolmans. Grinaker-LTA Construction is focused in Southern Africa and McConnell Dowell Corporation, its Australian-based company active in Australasia and the Pacific. E+PC offers a comprehensive range of engineering and project management services to mining and energy sector clients. Moolmans provides opencast mining services to major mining groups across the African continent. Construction projects include power stations, pipelines, underground mining, casinos, shopping malls, roads, dams, harbours and a wide range of other commercial and industrial installations.
The steel and allied cluster is made up of Trident Steel, Manufacturing and the Aveng corporate office. It has a presence in the major cities across South Africa, offering services that include the supply of shaped blanks (e.g. steel cut to the shape of a car door) to the motor industry, a variety of steel and concrete products to the mining industry, specialised steels to the manufacturing sector and a broad range of structural and concrete reinforcing steel and other products to the construction industry. It also supplies Spoornet with rail sleepers and a range of maintenance services for its rail infrastructure.
Aveng’s cement interests comprise a major stake in Holcim (South Africa) (Pty) Limited with the remaining minor stake being held by Holcim Limited, the world’s second largest cement manufacturer which operates in more than 70 countries. Holcim (South Africa) owns three cement factories and the associated production facilities, a number of large aggregate operations and a broad network of ready mixed concrete plants.
Aveng’s vision is to be a value-driven construction, steel and cement group leveraging best-in-class construction capabilities across subsidiaries and associates in selected areas of the developing world.
Business Summary
The Company is mainly engaged in holding construction, steel and cement interests and is focused principally on the developing world.
Description and history
The Company is mainly engaged in holding construction, steel and cement interests and is focused principally on the developing world.

The Company, originally used as an abbreviation for Anglovaal Engineering, was incorporated on November 22, 1944. Following the unbundling of Anglovaal into Avmin (mining) AVI (consumer products) and Aveng (engineering services), the Company was listed on the JSE Exchange, under the Building, Construction & Engineering sector on July 5, 1999.

Substantial corporate activity has taken place since then as the Company has begun to reposition itself as a ‘globally competitive construction-related group focused principally on the developing world’. Activity has included:
-Acquisition of the Alpha minorities and delisting of the group, giving Holcim 54% and Aveng 46% (November 1998)
-Acquisition of the Grinaker Construction minorities leaving Aveng with 100% of the group (November 1999)
-Disposal of 55% interest in Bearing Man (July 2000)
-Acquisition of 100% of LTA, its delisting and merging with Grinaker and the creation of Grinaker-LTA (November 2000)
-Acquisition of the Baldwins automotive businesses and their integration into Trident Steel (January 2001)

The Company (formerly known as AVI Diversified Holdings Limited) is engaged in building construction. The Group also distributes bearings, seals, power transmission products, geared motors, belting and related products. Construction contracts accounted for 60% of fiscal 1999 revenues; sale of goods, 40% and other services, nominal.

Started as a small construction company owned by James Thompson on the corner of Main and Rissik Streets, Johannesburg

Business Line
Focused principally in building construction and development
Subsidiary
ANDERSEN AND HURLEY INSTRUMENTS (SA) (PTY) LTD
Advisor
ERNST & YOUNG INC.
IPO date
7/5/1999
US SIC Code
1522
Company Address
Block B
204, Rivonia Road
City province or state postal code
2057, MORNINGSIDE
Phone: +27 11 726 1841
Fax: +27 11 646 6347
Country address: SOUTH AFRICA
Website url: www.aveng.co.za