Sa Investment Case Gets Nod Of Confidence As Chilean Mining Firm Buys Sa Foundry

Global mining supply company ME Elecmetal, headquartered in Chile, says it has bought one of Africas leading foundries - the Prima Foundry in Benoni, Gauteng, South Africa.

This is a significant milestone for ME Elecmetal, which has a 107-year history in the mining industry, with sales in more than 40 countries. ME Elecmetal has seven metallurgical plants located around the globe in Chile, US, Peru, China and Zambia. It has a 134000 ton foundry manufacturing capacity. It has a further commercial presence in over 40 countries.

ME Elecmetal said in a statement on Wednesday that the decision to acquire the Prima Foundry, a family-run business, specialising in the production of engineering castings for the mining industry, was part of the companys overarching vision of expanding ME Elecmetals ability to provide integral solutions to mining operations throughout the world.

The integration of the Prima Foundry into ME Elecmetals global operations is a strategic milestone for the company and a significant vote of confidence in the management and staff of the Prima Foundry, as well as it is for the broader investment case in South Africa, it said.

ME Elecmetals chairman, Baltazar Snchez, said: We are confident that ME Elecmetals integration of the world-class Prima Foundry into our global footprint will enable us to support the sustainable growth and development of the mining sector in South Africa, Africa and beyond.