5 March 2001
The Department of Public Enterprises today, announced Government's decision to proceed with the accelerated restructuring of Rotek Industries (Pty) Ltd, with the view to offering a minority stake in Rotek Engineering and Rosherville Construction (Roshcon) to strategic equity partners. The SEPs will provide capital and access to markets. Furthermore, this restructuring proposes the disposal of Rosherville Vehicle Services and Rosherville Properties as non-core businesses of Rotek.
The Department of Public Enterprises will soon issue a Request for Proposal (RFP) to invite firms to submit bids for the transaction advisor who will assist with the restructuring process of Rotek Industries.
The Rotek Industries (Pty) Ltd. was established in 1989 out of what was then Eskom's "Central Maintenance Services" ("CMS"). The commercialisation process over the past decade saw many of the smaller activities being closed down, resulting in four distinctive and different businesses being developed. These are ring-fenced and managed relatively autonomously. The businesses are:
Rotek has an annual turnover of more than R1 billion and is one of Eskom Enterprise's key divisions, providing services which include heavy electrical and mechanical repairs and refurbishment, infrastructure development, property management and transport projects. It has significant presence in Africa, where there is immense need for repair, refurbishment and maintenance.
Enquiries:
Fani Zulu
Director: Communications
Ministry of Public Enterprises
082 451 0457