pvnkhcwp

Denel in the black after 10 years

first_imgThe Agusta A109 Light Utility Helicopter isone of many products of Denel SaabAerostructures, a subsidiaryof Denel. Denel CEO Talib Sadik is confident theparastatal is on the path to self-sufficiency.(Images: Denel)MEDIA CONTACTS• Sinah PhochanaGroup Communications ManagerDenel+27 12 671 2662 or +27 79 511 6257Bongani NkosiAfter returning a profit for the first time in a decade, the state-owned arms manufacturer Denel looks set to turn the tide on financial losses and dependence on the government for capital.Denel announced its R111-million* net profit for the financial year ending March 2011, which is considered a welcome improvement as the group had ended in the red every year since 2001, and posted a loss of R246-million in 2010.“We are pleased with our results, and particularly because the business generated cash from operations of R178-million, compared to last year when we utilised R344-million,” outgoing group CEO Talib Sadik said in a statement.Denel said the annual results, released on 6 June, are encouraging in light of the challenging local and global market environment.The statement also expressed the CEO’s confidence that the company was “firmly on the path to self-sufficiency, prosperity and sustainability”.Management competence is one of the factors that resulted in income gains, noted the group’s financial director, Fikile Mhlontlo.“The results have been influenced by improved efficiencies, cost-containment exercises, improvement of financial performance by associates and significant once-off items,” he said.Denel’s incoming chairman, Zoli Kunene, can already predict profit stability in the group, thanks to the promising results. He said: “During the last five years Denel has seen a steady turnaround, culminating in this year’s operating profit.“The immediate objective must now be to secure the orders that are in the pipeline and move the company towards a position where it is no longer dependent on government financial support,” Kunene added.The group was particularly pleased by the fact that Denel’s marketing strategies and efforts had paid off, said outgoing chairman Dr Sibusiso Sibisi. This resulted in increases on export contracts concluded in the previous year.The public enterprise even scored its largest export ever during the year.Settling debtDenel’s debt funding balance remains high at R1.85-billion, resulting in a staggering annual interest charge of R118-million.The group plans to negotiate settlement options to bring interest down to reasonable levels.“We are engaging the shareholder with a view to restructuring the funding balance in order to reduce the interest burden,” said Mhlontlo.DSA needs to improve The public enterprise’s fortunes are largely dented by losses at its subsidiary Denel Saab Aerostructures (DSA). It incurred a loss of R237-million, which is still a 28% reduction from the previous financial year.The “successful implementation of the turnaround plan” adopted in 2009 helped improve DSA’s expenditure to R104-million, down from R263-million. The plan focused on improving manufacturing competence, among other things.“The narrower loss and improved efficiencies notwithstanding, DSA will still require further shareholder support over the next five years to ensure it becomes self-sustainable,” the group said.DSA is positioned as a leading designer and manufacturer of metallic and component aerostructures for the military and commercial aviation industry. It supplies aircraft manufacturers like Airbus, AgustaWestland, Boeing and Saab with the locally made aerostructures.Had DSA achieved the required results, Denel’s net profit would have at least gone up to R348-million, noted Sadik.DSA should bank on the imminent adoption of the Aerospace Sector Development Plan for profit sustainability.Role in the economyWith about 6 500 employees, Denel is one of the largest employers in the country. It draws some of South Africa’s most talented engineers and artisans, which means that keeping it as a viable entity would certainly be in the nation’s interest.The group estimates that its involvement in the local market resulted in the creation of 30 000 skilled technical jobs recently, through sub-contractor companies.It drew supplies worth over R2-billion from local businesses during the financial year to March 2011, contributing to sustained employment.“Denel’s economic footprint reaches far beyond the financial performance detailed in the group’s financial statements,” said Sadik.“As a significant employer we are making steady progress in human capital development as part of our drive to be a world-class and well respected South African company.”* The South African rand was R6.71 to the US dollar at the time of publishing.last_img read more

xmzwndln

Ponytail Holders/Friendship Bracelets No Crease Hair Ties Pretty Knot Rubber For Christmas Gift – Good selection of colours

first_imgFantastic price for dollars a substantial bag of brilliant hair bands. A large amount scaled-down than popbands even though.Terrific they you should not go away a line in your hair and there definitely snug when lying down on them.These small bands occur in a handy pouch effortless to take anywhere attractive dazzling colors.Colourful hair elasticsGreat Hair Ties!!Good selection of colours These small bands occur in a handy pouch effortless to take anywhere attractive dazzling colors.Disclaimer i bought these at a free of charge or decreased cost. I enjoy these bobbles, i have very long thick hair and come across it tricky to get a hair tie that isn’t going to rip my hair out or loosen in a ponytail all over the day. These really don’t rip my hair out and they keep limited. The colours had been a random blend which will not hassle me as i just seize one particular and go, they are not a choice of colors that i’d commonly go for even so. I preferred the bag in which they arrive in which is wonderful to retain them all alongside one another in the exact place so they never get misplaced (i swear i have a bobble thief in my property lead to i can in no way come across 1 when i need to have just one)when i need to i will be acquiring extra.Features of Ponytail Holders/Friendship Bracelets No Crease Hair Ties Pretty Knot Rubber For Christmas Gift (Pack of 30, Random color),PushengFriendship Bracelets Package Included: 1pcak X Hair Ties(30pcs, random color)Ponytail Holders are made from No Crease Ribbon – a soft and stretchy material that has been hand-dyed and knottedCompletely Hand Washable and You can also wear them as bracelets or ankletsGentle on your hair – No Crease Ribbon Hair Ties don’t pull and dent your hair like the traditional ponytail holdersHair Ties Ponytail Holders No Crease Knotted Ribbon Accessories No Tug Ouchless Hair ElasticsIt can be wonderful to have so quite a few colour options but they are all various measurements and some are a bit limited. For the cost it is even now enjoyable and value ordering but don’t be expecting them to be fantastic.And some matching pairs far too which is great for when i want bunches or plaits.And some matching pairs far too which is great for when i want bunches or plaits.It can be wonderful to have so quite a few colour options but they are all various measurements and some are a bit limited. For the cost it is even now enjoyable and value ordering but don’t be expecting them to be fantastic.Disclaimer i bought these at a free of charge or decreased cost. I enjoy these bobbles, i have very long thick hair and come across it tricky to get a hair tie that isn’t going to rip my hair out or loosen in a ponytail all over the day. These really don’t rip my hair out and they keep limited. The colours had been a random blend which will not hassle me as i just seize one particular and go, they are not a choice of colors that i’d commonly go for even so. I preferred the bag in which they arrive in which is wonderful to retain them all alongside one another in the exact place so they never get misplaced (i swear i have a bobble thief in my property lead to i can in no way come across 1 when i need to have just one)when i need to i will be acquiring extra.Terrific they you should not go away a line in your hair and there definitely snug when lying down on them.Fantastic price for dollars a substantial bag of brilliant hair bands. A large amount scaled-down than popbands even though.last_img read more

kxmuryyv

Vermeer expands mower conditioner line with larger model

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Vermeer Corporation continues to expand its mower conditioner line with the addition of the MC4500 mower conditioner. Designed with productivity, flexibility and convenience in mind, the MC4500 has a 15-foot (4.5-m) cutting width to meet the needs of large volume operators.“Vermeer added a larger model to the mower conditioner line to help large volume operators cover more acres in a shorter amount of time” said Vermeer Product Manager, Josh Vrieze. “The MC4500 mower conditioner brings more size, speed, versatility and reliability to the operator in the field.”Efficiency features like a drawbar swivel hitch allow hooking up the implement to become a hassle-free, one man job. Similarly, the Quick-Clip® Blade Retention System makes replacing and reversing blades quick and convenient.Q3® Cutter Bar technology helps maximize productivity by making the mower more fuel-efficient with minimal gear-to-gear interface, requiring less horsepower than gear-bed style cutter bars. The Quick-ChangeTM Shear Ring sits within the disc hub and shears when a potentially damaging object encounters the disc to protect the internal gears and drive spline. All combined, these Q3 Cutter Bar features make maintenance and repair user-friendly.In addition to the unique cutter bar features, Vermeer mower conditioners are equipped with a nitrogen-charged accumulator suspension system to provide a consistent weight on the cutter bar throughout the full range of motion. Operators can easily customize suspension settings for their specific field conditions, resulting in less cutter bar weight on the ground and less stress on the header and framework compared to traditional mechanical spring systems.With the option of either a steel roller or v-tine conditioner on all models of mower conditioners, the operator can choose the conditioning method preferred for their operation. In addition, multiple swath adjustments give users more control over their windrow formation. The Vermeer MC-series mower conditioners offers cutting widths of 9.1 feet (2.8 m) on the MC2800, 10.5 feet (3.3 m) on the MC3300, 12 feet (3.7 m) on the MC3700 and now 15 feet (4.5 m) on the MC4500.To learn more about Vermeer Corporation, products, the dealer network and financing options, visit vermeer.com.last_img read more