SP Mine Safety (SA) Pty Ltd (SPMS SA) is very pleased to announce today that it has concluded a transaction to bring on BG Safety (Pty) Ltd (BG Safety) as its Broad-Based Black Economic Empowerment (B-BBEE) equity partner.
BG Safety will take an equity interest of 25% + 1 share in SPMS SA to secure an ownership interest per B-BBEE guidance. SPMS SA anticipates this new partnership will enable SPMS to further grow and develop its business across the South African mining markets, while at the same time create added value for BG Safety.
“As a major supplier of mine safety technologies in South Africa, this partnership not only strengthens our corporate goals for continued safety in mining, but also demonstrates our support for the BEE’s economic transformation objectives,” states Ian Cillie, SPMS SA Managing Director.
Banzi Giyose, Executive Director & VP of BG Global commented, “The Strata/ SP Mine Safety transaction and investment is a strategic addition to our portfolio of investments, thus, making it a key focus in ensuring that we continue to build value for our stakeholders and shareholders. The transaction has been a thorough and lengthy negotiation process, which has demonstrated both BG Safety’s resilience, resolve and willingness to be an incoming value-adding equity partner to Strata. I believe we will build a resilient firm that will continue to provide a superior quality service to various markets”.
ABOUT BG SAFETY (PTY) LTD – BG Safety is an affiliate/subsidiary company of BG Global (Pty) Ltd and is headquartered in Sandton, Johannesburg. BG Global (Pty) Limited is an unlisted, majority black-owned and controlled international investment firm with a diversified portfolio of investment propositions. Founded early 2010, as a mineral resources development and energy firm, focused on coal, iron ore, gold and waste-to-energy power generation initiatives.
BG Global has presence and partnerships in Europe (Berlin, Germany) for energy, the UK (London & Manchester) in respect of mining services, USA (Atlanta and New York) in respect of safety systems, Europe (Turkey, Istanbul) for Technology and United Kingdom (London), the British Virgin Islands and Asia (China), for its mining & exploration portfolio.
ABOUT SP MINE SAFETY (SA) PTY LTD – SPMS SA, established in 2010, has a corporate office in Boksburg, Johannesburg. SPMS is the South African entity of global company Strata Products Worldwide Ltd.
