Integrated energy and chemicals company Sasol and Enaex, a subsidiary of the Sigdo Koppers Group, have concluded negotiations to establish a joint venture (JV).
The companies will file an application with the South African Competition Commission to seek approval for the merger.
If approved, Sasol and Enaex will form a new company and Sasol will transfer its explosives business to the new company as a going concern. Enaex, as majority shareholder, will take over management and operational control of the new company.
Meaningful participation for broad-based black economic empowerment has also been catered for in the shareholding structure in line with South Africa’s transformation goals.
Sasol in July selected Enaex as its preferred partner for the proposed establishment of a JV.
This follows after Sasol, through a detailed asset review in 2017, identified its explosives business as having growth potential that could be unlocked through collaboration opportunities, including the possibility of partnering with an explosives brand.
Enaex has almost a century’s experience in the global explosives market with its core business being ammonium nitrate production, explosives production and blasting services, making it one of the few explosives companies in the world that can produce and offer the entire spectrum of products and solutions to execute the blasting process.
By Tasneem Bulbulia
Source: Creamer Media’s Engineering News
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