For more than 125 years, Aveng has evolved in character, capacity and reach and continues to make its mark across the globe. Its origins lie in modest construction projects, but Aveng now boasts expertise in steel, engineering, manufacturing, mining, concessions, public infrastructure and water treatment. Aveng currently operates in a diverse range of sectoral and geographic markets.
Our primary geographic markets are southern Africa and Australia and we leverage our presence in these markets to pursue growth opportunities in East Africa and Southeast Asia.
The Company employs some 14 158 people and has an annual turnover in excess of R30 billion.
During the first half of FY2018, Aveng undertook a robust strategic review to fully evaluate our financial structure and operational performance to determine the key requirements for our medium- and long-term sustainability.
The strategic review was a robust and extensive process that looked at all parts of the organisation to identify businesses and assets that support our long-term strategy of becoming an international infrastructure and resources group with a footprint in developing and fast-growing regions and with access to key markets across our chosen sectors.
Aveng’s long-term sustainable plan is to:
- Reduce the number of operating groups to two and business units to five.
- Reshape operating structure in line with smaller, focused group.
- Improve revenue growth and profitability of core operations
- Dispose of non-core operations
- Reduce debt burden, sustained by core operations
- Deliver shareholder value through optimisation of core operations and disposal of non-core assets
Aveng’s core businesses:
- Construction and Engineering: Australasia and Asia: McConnell Dowell
McConnell Dowell is a major engineering, construction and maintenance contractor, delivering complex projects in the building, infrastructure and resources sectors in Australia, New Zealand and Pacific Islands, Southeast Asia and the Middle East.
- Mining: Moolmans
Moolmans is a South African-based leader in open cut contract mining across Africa, offering services across the mining value chain.
Aveng’s non-core businesses:
A key component of the strategic plan is the disposal of businesses that do not support the Group’s long-term strategy. Aveng intends to dispose of the Grinaker-LTA and Trident Steel operating divisions first, followed by the individual Manufacturing businesses.
While these are inherently good businesses, it is highly likely that they would be more successful in the hands of different owners.
The decision to sell these businesses as going concerns has ensured that Aveng will remain fully engaged to drive improved performance at these businesses until new owners are found. This approach will ensure a sustainable future for employees, customers and suppliers of these businesses and it will also allow Aveng to realise acceptable value for its shareholders in the disposal process.
Aveng’s core values:
Our core values differentiate and drive us to be a leader in the delivery of infrastructure, industrial and resource solutions in our core markets.
Honesty and Integrity
- We do what is right consistently and transparently.
Safety and Care
- “Home Without Harm Everyone Everyday”. We care for the health and wellbeing of our people, the communities we work in and for our environment.
- We build relationships by engaging, listening, understanding, collaborating and delivering on our promises with excellence.
- We are team players who are committed to the Aveng purpose, vision and values. We respect, cooperate and collaborate with each other, tapping into our rich diversity.
- We are clear about what we need to do to achieve the desired results. We strive for excellence and we hold ourselves and each other accountable.
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