Barloworld Pins Hopes on Africa
| Features - Features |
Jul 27th, 2009 | By admin |
Barloworld CEO Clive Thomson expects that the South African government’s drive to boost infrastructure ahead of the 2010 World Cup will continue to drive demand. Angola is also expanding public works and Barloworld has earmarked this country as a growth region.
“Angola is an increasingly important part of our profit stream,” said Thomson.
Barloworld supplies machinery to six African countries. “We benefit from diversity in geographical risk,” he said.
Expansion in coal and iron ore mining is also encouraging. But a slowdown in platinum, copper and diamond mining is posing a risk.
However, the equipment division did suffer from the slowdown in developed markets that has seen economic activity grind to a near halt in the last six months.
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