Malmesbury , 12 July 2018
GREENACRES MACHINE ENGINEERING (PTY) LTD LAUNCHES:
Greenacres Holdings (Pty) Ltd have completed the acquisition of the remaining shares in their Joint Venture with Albrecht Baeumer GmbH & co KG, (Greenacres-Baeumer Cutting Media Pty Ltd) and have received CIPC approval to rebrand the company as GREENACRES MACHINE ENGINEERING (PTY) LTD, effective immediately.
"Our inability to reach consensus about the future growth strategy of the company and our partner's fears of increased international competition from the JV's expanded activities, resulted in the company being in a state of limbo for more than a year", stated Des Green (Managing Director). "It became very clear to us that we would not be able to agree on the way forward so we took the necessary measures to take control of the majority shareholding and finally to take over the complete company with all capacities and technologies intact," he concluded. "We are very proud of our accomplishments and the fact that we delivered a substantial number of high quality cutting tool products to Albrecht Baeumer in Germany, for resale to their customers in Europe, demonstrating our capability, quality and our very competitive production efficiency".
The newly branded GREENACRES MACHINE ENGINEERING (PTY) LTD will expand it's activities and in addition to manufacturing high quality cutting tools, the company will manufacture new machinery for foam converting applications and supply used and retrofitted machinery sourced from Europe. The non-competitiveness of European OEM's for new foam converting equipment in the Africa market was one of the major drivers leading to the expansion of the company activities.
"We wish to assure all our customers that they will continue to be served with high quality products and efficient after sales services by a friendly team as before. Now we are free to execute our vision unimpeded and without restriction," concluded Des Green.
Watch this space......