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Sasol denies rumour of halt to Secunda operations
Sasol has denied media reports that it had put a stop to operations at its Secunda plant following the death of a worker yesterday. `Sasol operations at Secunda have not been affected at all,` company spokesman Johann van Rheede told Business Day today. The latest fatality is believed to have been the seventh major incident at Sasol since were 10 people were left dead and 360 injured during a maintenance drill at Sasol`s ethylene plant in Secunda in September last year. According to the department of labour preliminary investigations found that the worker died when a pipe collapsed on him `when the blank blew off` during pressure testing.
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Sasol under fire for lack of transformation
On 15 March 05 the government attacked Sasol for its lack of transformation saying that it would punish the group for not having appointing blacks to top posts reported Business Day.
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Sasol's share price rises on rumour of takeover
Sasol`s share price rose to R154.00 on 14 March 05, a 3.35% increase, due to rumours of a takeover by an unnamed US-based petrochemicals group. A fund manager at Old Mutual Asset Managers mentioned that the core reason for the rumoured takeover was Sasol`s investment in gas-to-liquid technology and the bidder was likely to be a group that was not yet involved in the technology. Johann Rheede, spokesperson for Sasol, said, `These are rumours; there`s absolutely no substance to it.`
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Sasol to reconsider R8.3bn investment
Sasol has said that it may reconsider its investment in Condea, a R8.3bn European acquisition purchased in 2001, if the oil prices remains at USD40.00 a barrel. The reason for re-evaluation is that Condea uses oil derivatives as inputs.
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Sasol - changes to the board
Sasol announced on 4 March 05 that on the retirement of its current chief executive, P V Cox, to appoint L P A Davies as chief executive and T S Munday as deputy chief executive with effect from 1 July 2005. The board has appointed P V Cox as chairman of the board to succeed P du P Kruger on 1 January 2006.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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