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2009  // Posts published in 2009

29 Jun 2009 Clothing and Textiles

PLAN TO SAVE FRAME PLANT TO BE UNVEILED THIS WEEK

All indications are that Seardel’s frazzled Frame Vertical Pipeline will be rescued. The team working on a strategy is due to announce its plan tomorrow or Wednesday. Andre Kriel, the deputy general secretary of the Southern African Clothing and Textile Workers Union (Sactwu), said on Friday that the Department of Trade and Industry, the Industrial […]

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12 Jun 2009 SENS Announcements

CHANGES TO THE BOARD OF DIRECTORS OF THE COMPANY

In accordance with Section 3.59 of the JSE Limited Listings requirements, HCI shareholders are advised that the following changes have been made to the composition of the HCI Board of Directors : Certain executive directors who are responsible for the running of group subsidiaries have resigned from the HCI Board in order to focus their […]

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12 Jun 2009 SENS Announcements

GRANTING OF OPTIONS

In compliance with Rules 3.63 – 3.74 of the JSE Limited Listing Requirements the following information regarding the granting and acceptance of options in terms of the HCI Employee Share Trust (2001) is disclosed:

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11 Jun 2009 Historic Investments

DEAL STARTS TO SOUR

HCI frustrated at stalling of urgent capitalisation plans The relationship between empowerment group Hosken Consolidated Investments (HCI) and dairy giant Clover Industries has soured to the point that the original black empowerment deal looks in jeopardy. HCI holds a 34,9% stake in Clover, an arrangement that market watchers believed would give the empowerment group a […]

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SOLUTION LIKELY IN JUNE

Ministries working to save Seardel’s beleaguered Frame Vertical Pipeline planned to find a solution by the end of the month, Nimrod Zalk, the chief director of industrial policy at the Department of Trade and Industry, said on Friday. A meeting to discuss ways of saving industrial capacity and the jobs of more than 1400 people […]

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FRAME RESCUE ‘ABOUT SAFEGUARDING INDUSTRY’

Measures to protect SA manufacturers may include acting ‘ruthlessly’ against illegal clothing, textile importers CAPE TOWN — Significant progress has been made in talks to salvage distressed textile manufacturer Frame, said Trade and Industry Minister Rob Davies yesterday. Government acted swiftly to facilitate negotiations to prevent the closure of the company — the biggest textile […]

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CLEAR LISTING SIGNAL

FUNDS COULD BE RAISED FOR AFRICAN EXPANSION Is it time – notwithstanding current market conditions – for Hosken Consolidated Investments (HCI) to consider a separate listing on the JSE for its free-to-air television subsidiary, e.tv? In the year to end March 2009, e.tv again performed solidly (unlike the shabby performance delivered by the SABC) with […]

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28 May 2009 Clothing and Textiles

FRIENDS IN HIGH PLACES

Having said “no”, the IDC is under pressure to save Patel’s pet project The battle to save Frame Textiles puts a spotlight on the cosy relationship between members of the new cabinet and the labour movement. The government initiative to save SA’s largest cotton spinner is ostensibly about preventing job losses and further de-industrialisation. But […]

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27 May 2009 Clothing and Textiles

FRAME TEXTILES MOVE IS NOT ABOUT PATEL, SAYS DAVIES

ROB DAVIES, the minister of trade and industry, yesterday defended the government’s intervention at Frame Textiles. He said the move was aimed at saving the production plant from closure and was not due to Minister of Economic Development Ebrahim Patel’s past involvement with the Southern African Clothing and Textile Workers’ Union (Sactwu). The government’s high-profile […]

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22 May 2009 Clothing and Textiles

PATEL LENDS A HAND TO FORMER EMPLOYER

Fresh from his position as Sactwu boss, new Economic Development Minister Ebrahim Patel wants to tip money into a company Sactwu jointly controls. Two weeks in the post and Economic Development Minister Ebrahim Patel has managed to rustle up renewed support for the rescue of a company that his former employer, the South African Clothing […]

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