Record capital expenditure programme sees upgrade of the Gases Operations Centre in Germiston and the commissioning of a new CO2 plant in Sasolburg.
Business streamlined realising savings of R200 million.
Global recession forces the closure of Brits MIG wire plant and a restructure of the Gas Equipment Factory. Plans are finalised for a new R200 million ASU in Pretoria to come on stream in 2013. Afrox achieves a Level 3 Broad-Based Black Economic Empowerment rating.
Kent Masters is replaced as Afrox chairman by Mike Huggon, Managing Director of BOC UK. Afrox managing director, Tjaart Kruger, resigns. ASUs switch to remote operations controlled out of the UK. Capital expenditure on tangible assets rose to R416 million.
Brett Kimber, former CEO of Linde Korea, is appointed Afrox Managing Director on 1 January. Afrox was the first industrial gases company in South Africa to receive international accreditation for the high quality food grade CO2. Afrox identified the need for a R1.5 billion capital expenditure programme, to run between 2013 and 2016.