According to Danie Maartens, Managing Director of FPT, which has longstanding employment equity, skills development and BEE preferential procurement policies in place, the deal has repositioned the company from being a dedicated fruit terminal service provider to a bigger logistics player in other commodities as well.
"This was the result of a thorough transformation process, aimed at a win-win situation for all parties in this momentous milestone in the history of the company. We are pleased to say that FPT scores a good to excellent rating in terms of the Maritime BEE Charter after the completion of this transaction," he commented.
"We are integrating backwards into logistics and moving closer to the source of the product - our imports now include bulk vessel cargoes of wheat and soya bean meal. We offload vessels and distribute cargoes via road trucks. We also let warehouse space to customers, such as Clicks, mostly for household goods."
Chairman of Capespan Dr Paul Cluver said, "I am very excited about this new partnership and the benefits it will bring to FPT, and the positive impact it will have on the transformation of FPT."
Ms Salukazi Dakile-Hlongwane, Chief Executive and Deputy Chairman of Nozala Invesments, noted, "This announcement is the conclusion of a three-year negotiating process during which Nozala Investments came to acquire an in-depth understanding of the business, thanks to the patience of FTP management. We have found in FPT an enthusiastic partner, willing to go the extra mile for empowerment."
Nedbank was chosen as the funding partner for this transaction.
Other BEE initiatives for FPT include a new R45 million, 4000-pallet cold store at Hermitage near Addo in the Sunday's River Valley, geared to specialised reefer and container loading by road and by rail. Approximately 60 new jobs will be created by the time the facility is up and running in July 2006, and eventually 49% equity will be held by a trust acting on behalf of the local community.
Players in this FPT initiative include the Sunday's River Municipality, which provided the Special Municipal Innovation Fund Grant, and the Maersk company's SA Transport Investments.
FPT, which has been ranked among the Top 100 companies to work for, has facilities in Cape Town, Port Elizabeth, Durban and Maputo with modern warehouse management, terminal handling, cold storage, fruit sterilisation and stevedoring, as well as cargo co-ordination, consolidation and transport, and third-party warehousing.
