Hulamin Extrusions to Consider Restructuring

 

Hulamin Extrusions is division of Hulamin Limited operating out of two plants in Olifantsfontein in Gauteng and Pietermaritzburg.  Hulamin Extrusions employs approx. 400 people (which is around 20% of total Group employment) and contributes approx. 10% to group turnover.

 

Since 1952, Hulamin Extrusions has been supplying extruded aluminium profiles to its South African customers as an important supplier to the architectural and engineering markets.

 

Since the last quarter of 2015, Hulamin Extrusions profits have fallen, and cash outflows have mounted. Markets have softened and demand has declined. From January 2018, this situation has become increasingly serious and intolerable, to the point when a strategic review of the business was undertaken.

 

Commencing this week, Hulamin Extrusions is to embark on an engagement process with employees and their representatives in both the Pietermaritzburg and Johannesburg sites. Hulamin hopes that this process establishes a sustainable solution to the problems facing Hulamin Extrusions.

 

All correspondence and enquiries are requested to be directed to Group Executive  ‐ Corporate  Affairs, Ms. Ayanda

Mngadi or Group Communications  Manager, Ms Noma Kanyile.

Email:  Ayanda.Mngadi@hulamin.co.za or call 061 284 1289

Alternatively  noma.kanyile@hulamin.co.za, 071 877 0327

 

Yours Sincerely,

 

Ayanda Mngadi

Group Executive: Corporate Affairs

 

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