|Home News Conferences Commodities Publications Business Directory Resources Help|
:: Magotteaux Becomes Strategic Equity Partner of Grinding Media South Africa
The Industrial Development Corporation and Magotteaux International S.A. have reached an agreement on extending their partnership regarding Grinding Media South Africa (“GMSA”).
GMSA which is a newly created company - spun out of industrial group, Scaw Metals, specializes in the manufacturing and design of grinding balls which are critical to the mining, cement and utilities industries.
The partnership which will now introduce Magotteaux as a Strategic Equity Partner in GMSA, will also enhance the technical and financial capacity of the business as well as providing access to new growth markets. As part of this partnership, Magotteaux will assume the operational management of GMSA upon conclusion of the agreement.
Magotteaux and Scaw have historical business ties, a factor which the duo are banking on to further enhance increased production and possible expansion of market opportunities for GMSA.
“Magotteaux has been collaborating closely with Scaw High Chromium grinding media for more than 30 years”, says Sébastien Dossogne, CEO of Magotteaux. “Strengthening this multiple-years of team work, and extending it to the forged grinding media activities, aligns with our strategic priorities. We seek leadership in all markets we serve, which explains the intensification of our presence in the forged grinding media business across geographies. In addition, we consider Africa as a strong growth region, with lots of untapped potential. We also see South Africa to be the optimal platform to start from, -as such we are very excited by the opportunities that the partnership with IDC and other local investors, offers us going forward”.
Commenting on the partnership, IDC CEO, Geoffrey Qhena was optimistic regarding future prospects for GMSA. “This marks a significant milestone for GMSA in the sense that Magotteaux footprint across the globe will certainly open up new markets and related growth opportunities says Qhena adding that this will also lead to the introduction of new capabilities and efficiencies in the company thereby sustaining existing jobs and potentially creating new job opportunities.” Most notably though Qhena says, the partnership demonstrates foreign investor confidence in South Africa.
© 1998-2017, Minerals Engineering International