McConnell Dowell is a major engineering, construction and maintenance contractor, delivering complex projects in the building, infrastructure and resources sectors in Australia, New Zealand and Pacific Islands, Southeast Asia and the Middle East.
Moolmans is a South African-based leader in open-cut contract mining across Africa, offering services across the mining value chain.
A key component of the strategic plan is the disposal of businesses that do not support the Group's long-term strategy. While these are inherently good businesses, it is highly likely that they would be more successful in the hands of different owners.
The decision to sell these businesses as going concerns has ensured that Aveng will remain fully engaged to drive improved performance at these businesses until new owners are found. This approach will ensure a sustainable future for employees, customers and suppliers of these businesses and it will also allow Aveng to realise acceptable value for its shareholders in the disposal process.
Non-core business disposal
- Aveng Water – Sold (25 Jun 2019)
- Aveng Infraset – Announced (18 Feb 2019)
- Aveng Rail – Sold (28 May 2019)
- Aveng DFC – Announced (5 Jul 2019)
- Aveng Grinaker-LTA Rand Roads & Aveng Grinaker-LTA Ground Engineering – Announced (12 Jul 2019)
- Aveng Duraset – Announced (7 Aug 2019)
- Aveng Grinaker-LTA Buildings and Civils – Announced (8 Aug 2019)
- Disposal of Grinaker-LTA Mechanical and Electrical Business (4 Oct 2019)
Integrated report 2019 FURTHER INFORMATION
Aveng Group Audited Results for the year ended 30 June 2019 DOWNLOAD PDF 3.17 MB
Presentation - Results for the year ended 30 June 2019 DOWNLOAD PDF 2.8 MB