Construction activity in South Africa reached an ultimate low point with a number of liquidations in the sector. Esor rationalized operations and plant in line with local activity. African operations account for approximately 40% of all revenues.
During the year the Company strategically positioned itself to take advantage of cross border activities and collapsed the structure into a developments division to focus on operations.
Esor Construction regionalised into Inland, East Coastal, West Coast and Africa divisions for enhanced focus and opportunity, with each of these sub-divisions focussing on all five product areas in their respective regions.
Esor acquires Tuboseal Services Proprietary Limited, effective from 1 September 2016.
Tuboseal will operate as a subsidiary of Esor Construction (Pty) Ltd, being a subsidiary of Esor Limited.
Operational restructuring in 2015, the group focusses in two core divisions: Esor Construction and Esor Developments. Esor Construction has five focus areas: Esor Infrastructure, Esor Building and Housing, Esor Pipelines, Esor Sanitation and Esor Pipe Services.
Refocus on higher margin operations. Reverts to branding Esor Limited, comprising the core divisions of Civils, Pipelines and Developments.
Geotechnical division sold to Keller for R578 million. External debt settled in the majority. Strengthened financial platform. Special dividend paid to shareholders.
Several legal entities within the Esorfranki group amalgamated into Esorfranki Construction (Pty) Ltd, a single, centralised company with various business units, namely:
- Goetechnical and Shared Services.
Esorfranki achieves R1.9 billion turnover
- Esor transfers to JSE Main Board
- Esor renamed Esorfranki Limited
- Esorfranki group revenue jumps to R1.4 billion
- Esorfranki Limited branded
- Franki acquires Geo Compaction Dynamics and expands its market share
- Esor acquires the Patula and Shearwater groups, diversifying into civil engineering and pipeline construction
- Esor wins 'AltX National Business Award
Esor achieves R1 billion turnover
Esor lists on AltX
Esor acquires Franki
Shearwater group established
Management buy-out at Franki
Patula group established
Esor (Pty) Limited established following restructuring of geotechnical operations and property companies
Esor Ground Engineering (Tvl) (Pty) Limited started in the Transvaal
Esor Ground Engineering (Pty) Limited established in Durban
Franki established in South Africa