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Clothing and Textiles  // Browsing posts in Clothing and Textiles

SACTWU SKIPS DIVIDENDS TO SAVE JOBS

THE South African Clothing and Textile Workers Union’s (Sactwu’s) efforts to sew up struggling clothing manufacturing operations has seen it sacrifice dividend flows in a bid to retain jobs. The union acquired several well-known — but loss-making — clothing operations from Seardel Investment Corporation in 2013. The operations, which have racked up losses in recent […]

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13 Jun 2014 Clothing and Textiles

SEARDEL FINDING PROFITABLE THREAD

Epping-based industrial holding company, Seardel Investment Corporation is no longer stitched together tenuously by its traditional operations in the clothing and textile sector. Recently, Seardel’s remaining (and consistently loss-making) clothing operations were sold off to the investment arm of the SA Clothing and Textile Workers Union (SACTWU) and the textile operations were re-focussed on more […]

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25 Feb 2014 Clothing and Textiles

SEARDEL PLANS R5bn RIGHTS ISSUE

SEARDEL, the new-look industrial holding company that Hosken Consolidated Investments (HCI) controls, on Monday proposed raising a substantial R5bn in a rights issue. The announcement said the proceeds from the R5bn rights offer, which HCI will underwrite, will be used to settle Seardel’s R4.5bn debt. Seardel has pitched the rights offer at 160c/share — a […]

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24 Dec 2013 Clothing and Textiles

SEARDEL SELLS EPPING INDUSTRIA PROPERTIES FOR R52.2m

Seardel sells the property situated at the corner of Bofors Circle and Losack Avenue to Sactwu Properties for R52.2m. Investment company Seardel (SER)‚ through its wholly owned subsidiary Seardel Group Trading (SGT)‚ has sold the property situated at the corner of Bofors Circle and Losack Avenue‚ Epping Industria ll‚ Cape Town‚ to Sactwu Properties for […]

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EDITORIAL: CLOTHING UNION BECOMES MANAGER

THE acquisition of Seardel’s loss-making clothing division by the Southern African Clothing and Textile Workers Union (Sactwu) is an interesting development in the South African business landscape which deserves to be closely watched. The union is about to find out that it is often easier being on the opposition benches than in the ruling seat […]

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31 Oct 2013 Clothing and Textiles

UNION TO BUY APPAREL BUSINESS

SEARDEL, the industrial holding group controlled by investment giant Hosken Consolidated Investments (HCI), will cast off its loss-making clothing manufacture operations. In an intriguing twist, Seardel has disclosed that the buyer of the threadbare clothing operations is trade-union investment company Sactwu Investment Group, which is aligned to the Southern African Clothing and Textile Workers Union […]

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SEARDEL PICKING UP STITCHES

ICONIC ‘rag trade’ conglomerate Seardel, quite bizarrely, will soon house a controlling stake in free-to-air television broadcaster e.tv. The e.tv transaction – initiated by Seardel’s parent company HCI – does change traditional operating channel for the clothing and textile company. After all e.tv, which is tucked away in offices just off Cape Town’s trendy Kloof […]

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OUT INTO THE LIGHT

By freeing its investment in e.tv, Hosken Consolidated Investments (HCI) has showed reassuring determination not to bury its top-quality assets. The problem with an investment company holding one huge and successful investment is that it can – as HCI appears to have acknowledged – completely overshadow other interests. And this is a real concern when […]

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24 May 2013 Clothing and Textiles

DEAL ANNOUNCEMENT LIFTS SEARDEL

SEARDEL’s share price has shot up 68% since last Friday’s announcement that HCI was exchanging its 64% stake in e.tv’s holding company Sabido for shares in Seardel. SEARDEL Investment Corporation, which last week announced it would become the parent of e.tv, yesterday reported a sharp drop in annual profit due to a R192m litigation gain […]

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e.tv DEAL ‘TO GIVE SEARDEL ANOTHER STRING IN ITS BOW’

THE inclusion of e.tv’s holding company, Sabido, in Seardel Investment Corporation would provide institutional investors with more direct access to the performance of the media group, Seardel CEO Stuart Queen said on Monday. Mr Queen was interviewed following the announcement of a shareholder restructuring, in which Hosken Consolidated Investments (HCI) would sell its stake in […]

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