Nampak said yesterday that it was in a stronger position to navigate through challenging economic conditions in key markets.
The company announced that over the past two years, it had been engaged in a restructuring and reorganisation process that resulted in the sale of low margin businesses, a capital expansion programme, investments in energy efficiency, improved focus on operational excellence, cost reductions and improvements in procurement processes.
The company said a R2 billion note programme was established on March 1 that would enable Nampak to issue unlisted notes to raise financing.
Volume growth in beverage cans, gains from improved performance at glass and improved efficiencies from business improvement initiatives at DivFood would contribute positively to earnings.
Glass has turned around and is expected to deliver profits in line with the previously communicated guidance.
By Sandile Mchunu
Source: iol.co.za
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
