Financial Mail

AFROX & BELL EQ U I P M E N T Subdued demand


African Oxygen (Afrox), which is grappling with weak demand for its gases and welding products, was dealt another blow last week when well-respected MD Brett Kimber unexpected­ly resigned with immediate effect.

In many ways, Afrox and smaller JSE-listed industrial firm Bell Equipment tell a similar story. Bell provides earth-moving, constructi­on, mining and materials-handling equipment.

In a depressed SA economy, subdued demand for Bell’s and Afrox’s products, from the mining, constructi­on and manufactur­ing sectors in particular, is taking its toll on the companies.

Both are well-known local firms with a long history on the JSE and in SA’s industrial sector, but late last year both announced the need for substantia­l cost cuts.

Kimber, who had been at the helm of Afrox for three years and was overseeing a R1,5bn capital investment programme, left to pursue other career opportunit­ies, Afrox says. “We have only just been informed of Brett’s resignatio­n and have no further informatio­n at this time,”

Newspapers in English

Newspapers from South Africa