June 19, 2018 1:28 PM ET

Construction Materials

Company Overview of Wearne Aggregates (Proprietary) Limited

Company Overview

Wearne Aggregates (Proprietary) Limited manufactures ready-mix concrete. The company was founded in 1970 and is based in Johannesburg, South Africa. Wearne Aggregates (Proprietary) Limited operates as a subsidiary of W.G. Wearne Limited.

300 Unit 4

Stonemill Office Park

Acacia Road

Johannesburg,  2194

South Africa

Founded in 1970

Phone:

27 11 459 4500

Fax:

27 11 478 5481

Key Executives for Wearne Aggregates (Proprietary) Limited

Wearne Aggregates (Proprietary) Limited does not have any Key Executives recorded.

Wearne Aggregates (Proprietary) Limited Key Developments

Wearne Aggregates, Right Gold and Wearne Quarries Natal (Pty) Limited Announces Joint Venture Agreement

A proposed joint venture between Wearne Aggregates (Pty) Ltd. (Wearne Aggregates), a wholly owned subsidiary of Wearne, and Right Gold Machinery Proprietary Limited (Right Gold) in respect of the Willows Fountain Quarry situated at Pietermaritzburg (the Quarry). Shareholders are advised that Wearne Aggregates, Right Gold and Wearne Quarries Natal (Pty) Limited ("Wearne Natal") entered into a joint venture agreement on 25 April 2018 in respect of the Quarry. Wearne Aggregates is the beneficial owner of the Quarry and Right Gold owns a new crushing plant ("the Plant"). The parties agreed to establish a joint venture known as Wearne Quarries Natal ("the JV") which will operate out of the Quarry. Wearne Aggregates will allow the JV the use of the Quarry, certain listed assets and equipment, stock and staff necessary to continue the operations of the business. Right Gold will allow the JV to use the Plant and certain equipment, and provide civil works and installation costs to the value of R3 million, as well as R2 million working capital to the JV. It shall also provide certain staff. The JV will be operated through Wearne Natal. All profits realized from the business of the JV shall be shared equally between Wearne Aggregates and Right Gold. The JV shall be managed jointly by Wearne Aggregates and Right Gold. The JV shall endure for a period of 10 years, unless terminated earlier in accordance with the provisions of the JV agreement. Upon dissolution of the JV, in the absence of an agreement to the contrary, an administrator will be appointed by the parties to handle the dissolution.

WG Wearne and Wearne Aggregates to Form Joint Venture with Right Gold Machinery

WG Wearne Limited and Wearne Aggregates (Pty). Ltd. have entered into heads of agreement to enter into a joint venture with Right Gold Machinery Proprietary Limited, with respect to Willows Fountain Quarry situated at Pietermaritzburg, South Africa. All the companies are based in South Africa. Wearne Aggregates is a wholly-owned subsidiary of WG Wearne, a supplier of materials to the building and construction companies. Under the terms of transaction, Wearne Aggregates will dispose its Willows Fountain Quarry assets to the newly formed company Wearne Quarries Natal Proprietary Limited, as a going concern for ZAR 20 million (USD 1.49 million) and Right Gold Machinery will join as a shareholder. Following the transaction, WG Wearne and Wearne Aggregates will own 50% stake, and Right Gold Machinery will own 50% stake in Wearne Quarries Natal. The transaction is expected to be closed by October 1, 2017.

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Recent Private Companies Transactions

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