E25M MONTIGNY-TDM TRANSACTION BRINGING 100 JOBS NEXT MONTH

MBABANE – Montigny Investments – one of the largest privately owned timber companies in Southern Africa, who now officially own 85 per cent shares of South Africa’s door and shelves manufacturer, TDM will provide 100 jobs next month. 

Executive Director Andrew le Roux explained that following receipt of approval to acquire shares at TDM from the Competition Commission they had already procured machinery which was currently being installed.

He said they were working around the clock to ensure preparedness for commencement of operations at their Nhlangano and Bhunya plants. He said they would start with operations at Nhlangano and then proceed to the Bhunya plant. 
“We will be hiring in the Nhlangano plant within the next month,” said le Roux when providing an update of what would become of their new operation in 2018.

Communication

He said the applications would be considered as from early next year and candidates would be contacted for further communication in terms of whether their applications had been successful or not.        
 Montigny owns 85 per cent of TDM while the family that started the business has retained the remaining 15 per cent.
The local company paid a combination of debt and equity which made the purchase price to be about E25 million. 

Montigny said they would be investing a lot in the business that would also secure about 400 jobs in South Africa while creating about 200 jobs in Swaziland. Le Roux said they were confident that the acquisition would bring a lot of manufacturing capacity in the kingdom.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: