Issued by: North West Communication Service
STATEMENT BY NORTH WEST MEC FOR TRANSPORT AND CIVIL AVIATION MR FRANS VILAKAZI - 7 DECEMBER 1995;
In September this year, I announced the dissolution of the then board of the North West Transport Investments (NTI), a company with holdings amounting to more than R500 million and turnover in excess of R1-billion per annum.
An interim board under the leadership of Advocate Martin Mabiletsa was then put in place to steer NTI during its transfor- mation phase. At the same time, an assessment of NTI was undertaken by renowned financial expert Professor Michael Katz.
Prof Katz and his team have now completed their work and have made certain recommendations to the North West Government about certain companies that fall under NTI.
The subsidiaries, which have come under the spotlight, include Comark (with subsidiaries of Durabuild, Duratech and Duracare), Neutra, Mamelodi Bus Services, Crystal Air, Atteridgeville Bus Services, VTC, Witbank and Lothair.
The recommendations are now being studied by the North West provincial cabinet after which an announcement will be made early next week.
Contact: Willie Modise: 082-5584-087