Aveng

Aveng (formerly Anglovaal Engineering) is an international infrastructure and resources company listed on the Johannesburg Stock Exchange. Its origins lie in modest construction projects, but Aveng now operates in steel, engineering, manufacturing, mining, concessions, public infrastructure and water treatment. Aveng currently operates in a diverse range of sectoral and geographic markets.

Aveng Limited
Public
Traded as(JSE: AEG)
IndustryMining, Construction, Manufacturing, Engineering, Steel
PredecessorAnglovaal Engineering
Founded1880 (1880)
Headquarters
Melrose Arch, Johannesburg
,
South Africa
Area served
Africa, Australasia, Southeast Asia, South America
Key people
Eric Diack (Chairman)[1]

Sean Flanagan (CEO) [2]

Adrian Macartney (CFO)
ServicesContract Mining, Shaft Sinking, Construction, Manufacturing, Steel
Revenue31 Dec 2019: R11.2bn[3];
30 Jun 2019: R 25.7bn;
30 Jun 2018: R30.6bn[4]
31 Dec 2019: R170 m loss[3];
30 Jun 2019: R1.7 bn loss
31 Jun 2018: R3.5 bn loss
Total assetsR 15.07 Billion (2018)[4]
Number of employees
14,158 (2018)
SubsidiariesNumerous
Websitewww.aveng.co.za

Aveng's primary geographic markets are southern Africa and Australia.

The Company employs some 14 158 people and has an annual turnover in excess of R30 billion.

Strategic Review

During the first half of FY2018, Aveng undertook a "robust strategic review" to fully evaluate their financial structure and operational performance to determine the key requirements for our medium- and long-term sustainability.

Aveng announced as part of their strategic plan that they would dispose of businesses that did not support the Group's long-term strategy.[5] Aveng intends to dispose of the Grinaker-LTA and Trident Steel operating divisions first, followed by the individual Manufacturing businesses.

Core businesses

Construction and Engineering: Australasia and Asia
McConnell Dowell
McConnell Dowell is a major engineering, construction and maintenance contractor, 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 operator in open cut contract mining across Africa.

Non-core businesses

Aveng Trident Steel
Trident Steel supplies a wide range of products to the distribution, mining, construction and automotive industries from its steel processing service centres and warehouses, and its manufacturing and fabrication plants.

Aveng ACS (Automotive & Control Solutions
Aveng Automation & Control Solutions is a market leader in Southern Africa in the field of Process Control Instrumentation providing world-renowned products, specialised training, after sales service and technical support. Aveng Automation & Control Solutions represents Emerson Process Management, formerly Fisher-Rosemount, in Southern and Eastern Africa.

gollark: It's running but ÆÆÆÆÆ IPv6 configuration.
gollark: * occunruununnuuuicircingning
gollark: Minecraft servering is occurururirirng.
gollark: It's bee.
gollark: Every new version of Minecraft is less and less efficient.

See also

References
  1. Eric Diack Biography - Aveng website
  2. Sean Flanagan Biography - Aveng website
  3. Aveng Interim Financial Report 2020, Aveng website, Retrieved 09 March 2020
  4. Aveng Financial Report 2018, Aveng website, Retrieved 17 August 2019
  5. Ana Reporter, (18 January 2019), Aveng says to sell non-core assets after strategic review, Independent Online Retrieved 17 August 2019


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.