 |
Angola
Botswana
Malawi
Mozambique
Namibia
South Africa
Zimbabwe
Cote D'Ivoire
Ghana
Nigeria
Kenya
Uganda
Tanzania
Mauritius
Seychelles
Algeria
Egypt
Morocco
Zambia| Press offices |
Categories
Radio showsSpecial sectionsRelated sectorsIn the news | Marketing & Media news PSV engineering group completes Pump Business offloadBusiness Live reports that PSV, the diversified industrial engineering group, has successfully sold its Pump Business to global player, Kolkata, India headquartered, WPIL in bid to cut debt and return value to its shareholders. The Pump Business consists of 100% of the issued share capital of each of PSV Services, PSV Zambia, APE Pumps, Mather & Platt and the associated properties from which these companies operate. Abie da Silva, CEO of PSV Holdings, said that reasons for the sale were PSV's primary debt, the need to inject cash back into the remaining subsidiaries, to be used as working capital and to pay a special dividend to shareholders. The Pump Business has been sold to WPIL, da Silva said, which is a global player in engineered water-handling pumps for the power, municipal mining and oil and gas sectors. PSV's Pump Business has been operating primarily in South Africa and Zambia for over five decades, designing, manufacturing, maintaining, refurbishing and importing pumps. The unit has an extensive product base in mines, municipalities, paper mills, minerals beneficiation companies, ports and harbours, water authorities, power generation utilities and petrochemical refineries, Business Live says. Read the full article on www.businesslive.co.za.
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law. | Subscribe to industry newslettersPromoted contentContributorsPress offices |
 | BMi Research extends a helping hand |
 | Portfolio Night Johannesburg: SA's All-Stars shortlist revealed! |
 | GraphicMail's reseller base continues to expand |
 | Remaining relevant as a PR/communication agency in a tech-driven world |
 | Wild Island receives a brand and packaging upgrade |
 | Mindshare South Africa wins Purple Head award |
 | Stage audio hits the right note with ADreach |
 | Looking back at Africa's biggest travel trade show - Indaba 2013 |
 | Hyundai South Africa partners with World Wide Creative to launch new website |
 | Oresti Trends Talk 2.0 - The Dynamic Consumer Landscape |
 | Blast Brand Catalysts on the money for Bidvest Bank |
 | IMC Conference announces final speaker and workshop topics |
 | Why an updated email database is still important |
 | MDDA-Sanlam Local Media Awards finalists announced |
 | HKLM case studies |
Bizcommunity has over 400 industry contributors and we always welcome further contributions and contributors.
News
Community
Submit
MyBiz Account
Advertise
Bizcommunity
ADSL & Web hosting proudly provided by Afrihost. All rights reserved. © 2013. Bizcommunity.com, its sponsors, contributors and advertisers disclaim all liability for any loss, damage, injury or expense that might arise from the use of, or reliance upon, the services contained herein. Privacy policy, Terms of Use, PAIA.