BEE deals

Following months of successful negotiations Rudamans Nelspruit concluded the signing of their Black Economic empowerment  deal with Vuka Forestry Holdings. The deal, signed on 2 July 2007, gives Vuka Forestry Holdings a significant stake in  the company.

The completion of this deal gives Rudamans an acceptable score relative to an empowered company as per the Broad Based Black empowerment Act, 2004.

Appointed as Chairman, Mr Mathews Phosa stated that the Rudamans transaction is in line with Vuka’s philosophy and strategy to add business value to all their business interests and they are looking forward to expanding the Rudamans business base.

The management of Rudamans Nelspruit and Vuka Forestry Holdings have many complementary strengths and plan to pool their vast knowledge in the various business sectors to increase their investment in the timber and agricultural industry with in South Africa.

This new and enlarged group will be able to better service its large forestry and agricultural client base and enable the business to continue its mission of service excellence relating to the supply and servicing of major brands such as Echo power equipment, Husqvarna, Yamaha, Kubota, Dolmar, Contax, Solo and others.

Mr Wayne Jackaman CEO Rudamans Nelspruit said on the deal “Now is the future and we plan to be a part of the success of our new nation.”