Anglo American completes divestment of Scaw Metals

first_imgAnglo American has completed the final stage of the $1.4 billion Scaw Metals Group divestment with the sale of Scaw South Africa, a leading South Africa based integrated steel maker, to an investment consortium led by the Industrial Development Corp of South Africa (IDC) and Anglo American’s partners in Scaw South Africa, for a total consideration of R3.4 billion ($440 million) on a debt and cash free basis. Scaw Metals Group is a leading South African based integrated steel manufacturer serving the mining, construction and other industrial sectors. It comprised four key business units – Grinding Media, Wire Rod Products, Cast Products and Rolled Products. The main operations are located in South Africa and Australia, with smaller operations in Zimbabwe and Zambia.Scaw Grinding Media is the leading supplier of grinding solutions to the African mining industry. It supplies a broad spectrum of grinding media to major end-use commodities, including platinum, gold and copper. These products include cast high chrome and forged grinding balls.Scaw Wire Rod Products is a leading manufacturer and distributor of specialised ropes, wire/strand and chains for mining and Scaw Cast Products is a leading manufacturer of specialised, high quality cast products used in mining.last_img read more