9 February 2007 -

KSB buys SA joint venture

KSB has acquired its former joint venture partner's 50% share in KSB Pumps (Pty) Ltd, the company's South African base.

The company transferred the operative business of KSB Pumps (S.A.) (Pty) Ltd. to a newly established sub¬sidiary of that company, KSB Pumps and Valves (Pty.) Ltd, based in Germiston, South Africa . KSB holds 74.9% of this subsidiary's share capital.

25.1% of the new company's shares are held by Medu Capital (Pty.) Ltd, and the participation of this South-African investment management company will, among others, improve KSB's chances of securing government contracts, the company says. Contracts are preferentially awarded to com¬panies supporting the government's Black Economic Empowerment policy.

KSB started business operations in South Africa in 1920 and established its own company there in 1959. In Germiston near Johannesburg , it has a staff of 320 that manufactures pumps for water, industrial and mining applications.

 

 

 

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