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Anglo American PLC AAL Anglo American completes sale of Scaw South Africa



  Anglo American PLC (AAL) - Anglo American completes sale of Scaw South
  Africa

RNS Number : 9286R
Anglo American PLC
26 November 2012
 



                                      
26 November 2012

 

Anglo American completes sale of Scaw South Africa to IDC led consortium

 

Anglo American plc ("Anglo American") announces the completion on 23  November 
of the sale of Scaw South Africa (Pty) Ltd. ("Scaw South Africa") and  related 
companies for a total consideration  of R3.4 billion on  a cash and debt  free 
basis.

 

Anglo American announced on  24 April 2012  the sale of  Scaw South Africa,  a 
leading  South  African  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, being  Izingwe 
Holdings (Pty)  Limited, Shanduka  Resources  (Pty) Limited  and  the Southern 
Palace Group of Companies (Pty) Limited.

 

 

For further information, please contact:

 

Media                      Investors
UK                         UK

James Wyatt-Tilby          Leng Lau

Tel: +44 (0)20 7968 8759   Tel: +44 (0)20 7968 8540

                            
Emily Blyth                Sarah McNally

Tel: +44 (0)20 7968 8481   Tel: +44 (0)20 7968 8747

 
South Africa                

Pranill Ramchander

Tel: +27 (0)11 638 2592

 

Notes to editors:

 

Scaw Metals Group

Scaw is a leading South Africa  based integrated steel maker producing  highly 
specialized and critical  consumable components for  the mining, rail,  power, 
offshore oil and gas, construction,  commercial and other industrial  sectors. 
The business  operates  through  four  product  focused  business  units  with 
facilities in South  Africa. Grinding  Media produces high  chrome and  forged 
grinding media. Wire Rod  Products produces steel wire  rope, chain, wire  and 
strand and other  related products  for mining,  industrial, construction  and 
offshore oil  drilling  applications. Cast  Products  designs and  produces  a 
variety of  cast  steel  products  for the  mining,  metal  processing,  power 
generation and railway industries.  Rolled Products is  a manufacturer of  low 
and high carbon long steel products.

 

In addition to Scaw South Africa, the Business includes a 50% interest in CWI,
a joint venture  with ArcelorMittal South  Africa; a 31%  interest in GSIL,  a 
joint venture with Lucchini  SpA, and 100% equity  interest in each of  Haggie 
North America Inc,  Haggie Reid  (Pty) Ltd.,  African Wire  Ropes (Pty)  Ltd., 
Haggie Rand Zimbabwe (Pty) Ltd., Scaw  Metals (Pty) Ltd. (previously known  as 
PWB Anchor (Pty) Ltd.) and Afrope Zambia Ltd. 

 

 

Anglo American

Anglo  American  is  one   of  the  world's   largest  mining  companies,   is 
headquartered in  the UK  and  listed on  the  London and  Johannesburg  stock 
exchanges.  Anglo  American's  portfolio  of  mining  businesses  spans   bulk 
commodities - iron  ore and  manganese, metallurgical coal  and thermal  coal; 
base metals - copper and nickel; and  precious metals and minerals - in  which 
it is  a global  leader in  both  platinum and  diamonds.  Anglo  American  is 
committed to the highest standards of safety and responsibility across all its
businesses and  geographies and  to  making a  sustainable difference  in  the 
development of the  communities around  its operations.  The company's  mining 
operations, extensive pipeline of  growth projects and exploration  activities 
span southern  Africa,  South  America, Australia,  North  America,  Asia  and 
Europe.

 www.angloamerican.com

 

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCPGGGCGUPPGAW -0- Nov/26/2012 07:00 GMT
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