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Building|Business|Construction|Cranes|Engineering|engineering news|Manufacturing|Manufacturing |Operations
Building|Business|Construction|Cranes|Engineering|engineering news|Manufacturing|Manufacturing |Operations
building|business|construction|cranes|engineering|engineering-news|manufacturing|manufacturing-industry-term|operations

SA French unveils AltX ambitions

2nd November 2007

By: Matthew Hill

  

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Johannesburg’s bourse for smaller companies, the AltX, will on November 7 welcome yet another construction-related initial public offering, in the form of crane and materials-handling supplier SA French, which aims to raise R60-million through private and vendor placements.

The firm, which is so busy that it has to turn away 20% to 30% of business, says that it is pursuing the listing to facilitate expansion and help boost inventories to meet current levels of demand.

Four-fifths of its revenue comes from selling and renting tower cranes, operations director Warwick van Breda tells Engineering News.

Tower cranes are used to build high-rise buildings, and SA French is getting a lot of business from companies constructing such build- ings in and around Sandton, he states.

SA French imports its wares from countries including Spain, Italy, France and Portugal.

The past few months have seen a flurry of construction-related firms listing on the AltX as the building industry experiences its biggest boom in about two decades.

Van Breda says that SA French is “definitely looking at manufacturing locally”, in the long term.

It re-engineers some of the parts that it imports.

“Manufacturing the mast sections of the cranes locally would be preferable to us,” says Van Breda, adding that SA French would likely look to doing this in four to five years.

Merchant Sponsors is advising the company on its listing, he states.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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