Closure of Bambanani Pipes and Fittings (Pty) LTD:
After 19-years of operation, Macdonald Holdings has announced that it will be closing Bambanani Pipes and Fittings, its pipe manufacturing and coating division.
The decision comes after 24 months of irregular project work and sustained losses which have been unavoidable in the current market, despite every effort made to revitalise the business. General Manager, Mr. Chris o’ Neill says, “Unfortunately the business has relied on the public sector’s manufacturing and maintenance spend and as this has begun shrinking so has the ability to keep the doors open and profitable. It is never an easy decision when people’s livelihoods are at stake, which is why we have taken every step possible, despite two years of losses, to look at positive solutions for the business. Sadly though, none of these has resulted in a marked turnaround and as such the shareholders have decided to call an end to the business.”
Bambanani was formed in 1998 by a management buy-out of the ex-Hall Longmore operation that was based in Luipaardsvlei, Krugersdorp. In 2008 Bambanani became a member of the Macdonald Group of Companies and is a 100% BEE owned company with a level 1 BBBEE scorecard. It seems though, that despite these positives including a massive investment in a new facility and the very real consensus from clients of a brilliant product, that another once successful business is taking the brunt of a market downturn.
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