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History


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2000s

2008

  • Good progress is made in AECI’s capital investment programme.  In terms of a strategy formulated in 2007, the Group is investing about R2 billion in its future growth.  Most capital projects will come on line in 2009.
  • After protracted but unsuccessful attempts to sell the nylon light industrial fibres and polyethylene terephthalate businesses of SANS Fibres as going concerns, AECI announces that it intends closing all operations at SANS Fibres’ Bellville site, Western Cape, at the end of March 2009.  SANS Technical Fibres, at Stoneville, USA is not affected and will run as a stand-alone company for the foreseeable future.
  • Senmin, a subsidiary of Chemical Services Limited, concludes a joint venture agreement with Ciba UK plc to build and operate a world class plant for manufacturing acrylamide and polyacrylamide, using Ciba technology, at Sasolburg in the Free State.

2007

  • Graham Edwards, managing director of AEL since 1999, will succeed Schalk Engelbrecht as chief executive of AECI with effect from 1 March 2008
  • SANS Fibres exits the nylon high decitex industrial (HDI), the polyester HDI and polyster light industrial (LDI) yarn businesses in December. Partners or purchasers for the balance of the SANS Fibres businesses are being sought
  • AECI sells its decorative coatings business, trading as Dulux, to ICI for a cash consideration of R745 million.  The sale includes the South African operations as well as the subsidiaries in Botswana, Malawi, Namibia, Swaziland and Zambia 

2006

  • Group revenue and profit from operations exceed R10 billion and R1 billion respectively for the first time
  • Chemical Services’ first foray into Brazil, via the acquisition of 60% of Resitec, delivers pleasing results and will be used as a platform for expansion there
  • AEL successfully commissions Project Bernice, which will produce 40 million detonators a year and is the first phase of a R620 million investment to automate production at Modderfontein
  • The Group’s 61 hectare site at Milnerton is remediated and sold for R260 million

2005

  • The Group's property activities deliver outstandng results with record operating profit of R185 million and net cash flow of R270 million
  • AEL accelerates its factory modernisation and automation programme at Modderfontein and the first phase, at a cost of R75 million, nears completion
  • Chemical Services spends R207 million on acquisitions including Chemiphos and bolt-on Mineag, JLM, Orlik, Nobel Industries and Leochem
  • The Tiso Group acquires a 25.1 per cent equity interest from Chemical Services, for R94 million, in ImproChem (water treatment business)
  • SANS Fibres' joint venture in the USA delivers profit (US$1.5 million) for the first time on the back of good volume growth

2004

  • The Group becomes the first empowered major supplier of explosives, initiating systems and services to South Africa's mining industry. This is in terms of an agreement whereby an empowerment consortium, led by the Tiso Group, acquires a 25.1 per cent interest in AECI's South African and African explosives operations for a cash consideration of about R401 million
  • Chemical Services reaches agreement for the acquisition of two separate businesses, for a combined consideration of about R150 million. The companies concerned are those of UAP and Chemiphos

2003

  • Schalk Engelbrecht succeeds Lex van Vught as AECI's chief executive
  • AECI acquires, from the minorities of Chemical Services Limited, the balance of the shares in this company that it did not already own. Chemical Services is delisted from the JSE Securities Exchange SA by year-end
  • AECI and Dyno Nobel of Norway sign heads of agreement for the establishment of a 50:50 joint venture company, DetNet International, that will be responsible for all future design, manufacture, promotion and support of electronic detonator systems. The JV is a major step in gaining access to international markets for AECI's highly specialised, world class electronic detonators

2002

  • SANS Fibres commissions its joint venture manufacturing facility at Stoneville, North Carolina, USA
  • The Group's transformation completed with the disposal of Kynoch Feeds, AECI Aroma and Fine Chemicals, and AECI's 40 per cent interest in Huntsman Tioxide
  • Chemical Services concludes an agreement to acquire the mining and alkylate chemicals businesses of Sentrachem
  • Headline earnings of 340 cents per ordinary share for the 2002 financial year are 32 per cent higher than in 2001, further extending the robust growth trend established since 1998

2001

  • At a general meeting of ordinary shareholders in AECI Limited on 10 January, the Company is authorised to buy back 40 per cent of its issued shares from majority shareholder, Anglo South Africa (Pty) Limited. As a result AECI purchases 61.9 million shares from Anglo, of which 51.6 million are cancelled and 10.3 million are now held as treasury shares
  • AECI's remaining 50 per cent interest in Kynoch Fertilizer sold to Norsk Hydro. The transaction completes the Group's exit from the non-core retail fertilizer business
  • Dulux's Protective and Marine coatings business sold to Sigma Coatings. Dulux will continue to manufacture branded products on Sigma's behalf for the next two years, on a toll basis
  • Agreement concluded to dispose of AECI's 60 per cent interest in AECI Bioproducts to Zarara Energy Limited
  • Heads of agreement concluded in terms of which AECI will dispose of its animal feeds business, Kynoch Feeds, to Kemira Oy of Finland with effect from 1 April 2002
  • For the first time since it began its transformation programme in 1998, AECI Limited returns to the international finance markets. It concludes an agreement with a syndicate of six banks to raise US$75 million by way of a three year revolving credit facility
  • Anglo American plc’s South African subsidiary disposes of a further 13.5 million shares in AECI (being 12.95 per cent of AECI's ordinary share capital) to two institutional buyers for an undisclosed amount

2000

  • Sale of AECI's 50 per cent shareholdings in both Resinkem and Specialty Minerals South Africa to Chemical Services Limited for R40 million. The consideration is satisfied through the issue of 3.33 million additional Chemserve shares to AECI, increasing AECI's shareholding in Chemserve from 60.9 per cent to 62.7 per cent
  • Disposal of Autoplastic to SAI Automotive AG, the automotive activity of the Sommer Allibert Group
  • Sale of AECI's 50 per cent share in Goldchem to its partner, Rand Refinery Limited
  • Sale of AECI's 50 per cent share in Alliance Peroxide to Degussa-Hüls AG of Germany
  • Announcement by SANS Fibres of a R60 million investment to double PET polymer production at its Bellville site
  • Joint venture in technical coatings with PPG Industries of the USA. In terms of the agreement signed, the technical coatings unit of Dulux becomes a separate company, AECI Coatings, with AECI holding 80 per cent of the equity
  • Conclusion of the sale of AECI's acrylics business to UK-based Ineos Acrylics for a total consideration of R70 million
  • SANS Fibres announces R40 million investment in a new spinning platform for its Bellville site, and the expansion of its global position in light industrial yarns through the investment of some R80 million in the USA
  • Redundant ammonia/urea plants at Modderfontein sold for R21 million for re-erection in China
  • Agreement reached in principle between AECI and Chemserve for Chemserve to purchase Industrial Urethanes, Kynochem and AECI Coatings from AECI. The transaction, with an estimated consideration in excess of R300 million, is subject to the approval of the minority shareholders in Chemserve, the statutory requirements of the JSE and other formal consents
  • AECI and Sasol Chemical Industries (SCI) reach agreement for SCI to acquire AECI's 50 per cent interest in the Fedmis Phalaborwa partnership, subject to approval by the Competition Commission
  • AECI Limited publishes a cautionary announcement advising shareholders that it had reached agreement in principle, subject to certain conditions, with Anglo South Africa ('Anglo'), regarding a potential repurchase by AECI of a portion of Anglo’s shareholding in AECI