Daily Archives: May 21, 2014

THE MASSIMO ZANETTI BEVERAGE GROUP: 100% acquisition of Boncafe Group, a leader in Southeast Asia’s & Middle East’s gourmet coffee market.

VILLORBA (TREVISO), Italy, May 21, 2014 (GLOBE NEWSWIRE) — The Massimo Zanetti Beverage Group (MZB Group), the first private group in the global coffee market thanks to international brands such as Segafredo Zanetti, Chock full o’Nuts, Kauai and Hill Bros (USA) and Meira (Finland), announced today the acquisition of the entire share capital of Boncafe Group, a leader in the roasting and sale of gourmet coffee and coffee machine equipment in Southeast Asia and the Middle East.

As a result of this deal, the MZB Group will reinforce its presence in these markets, with particular focus on Indonesia, Vietnam, Cambodia, Singapore, Thailand, Malaysia, Hong Kong and the UAE.

The deal, worth a total value of 85 million USD, includes the acquisition of the Boncafe roasting plants in Thailand and Singapore.

“With this acquisition,” said Massimo Zanetti, President of the MZB Group “our group will have the opportunity for further expansion in the Asian market, ensuring our production and distribution capacity is sufficient to meet the growing demand for coffee in the area. The integration of the Boncafe brand within the MZB Group will follow the criteria that have characterised our operations in the past, without making drastic changes to the successful business model and without changing its brand name, which is already well known in the region nor the top-notch management and workforce.”

With a 50 year presence and the leadership in the aforementioned markets with an EBITDA of 7 million USD in 2013, Boncafe Group is considered to be a landmark coffee brand in Asia, thanks to the European taste that has influenced its production and marketing over time.

The integration of Boncafe into the large network of companies that make up the MZB Group will guarantee the Asian player not only a leading industrial partner in all areas of coffee production, but also a financial partner that can support it and increase its presence in relevant markets, whilst also taking advantage of the opportunities offered by the new regulations in the ASEAN Free Trade Area (AFTA), effective from 1 January 2016.

THE MASSIMO ZANETTI BEVERAGE GROUP

The Massimo Zanetti Beverage Group is a holding company founded and chaired by Massimo Zanetti. It comprises a vast network of companies, which is undergoing continuous rapid growth on a global scale. The Massimo Zanetti Beverage Group is the first private coffee group in the world. It has a unique, fully integrated business plan thanks to the fact that it has direct control over the entire production chain. The Massimo Zanetti Beverage Group encompasses a number of well known international brands, which are very popular with the biggest world distributors. Most of these are leading brands in their specific area or sector, offering a rich variety of high quality regional products, including coffee, tea, cocoa and spices.

Press Release: http://hugin.info/145159/R/1787667/613955.pdf

CONTACT: For MZB Group:
Barabino & Partners
Federico Vercellino
f.vercellino@barabino.it
Fabrizio Grassi
f.grassi@barabino.it
Tel. 02 72023535

For Boncafe:
Bell Pottinger (Singapore)
Chelsea Phua
cphua@bell-pottinger.com
Lucy Miles
lmiles@bell-pottinger.com
Tel. (+65) 6333 3449

TALKS TO END SOUTH AFRICA’S PLATINUM MINING SECTOR STRIKE RESUMES WEDNESDAY

JOHANNESBURG, May 21– The parties in South Africa’s platinum mining sector strike will hold talks from Wednesday in a renewed bid to end the four-month long strike which has cost both the mining companies and the stiking workers billions of Rand of lost revenue and wages.

The chief negotiator for the platinum producers, Abey Kgotla, said Tuesday that the producers were committed to sustainable talks with the Association of Mineworkers and Construction Union (Amcu) and wanted to find a way to end the strike.

Producers Amplats, Implats and Lonmin, the world’s three biggest platinum producers, and Amcu have decided to put a dispute over the sending of SMS messages to mine workers on the back burner and concentrate on ending the strike.

The parties held their meeting behind closed doors on Tuesday. The new mediation talks will be facilitated by the labour court at an undisclosed venue.

Members of Amcu at the Lonmin, Implats, and Amplats mines in Rustenburg in North West Province and at Northam in Limpopo Province downed tools on Jan 23 demanding a basic monthly salary of 12,500 Rand (about 1,207 US dollars).

The strike has cost the companies more than 17.8 billion Rand in revenue and workers have lost more than 7.9 billion Rand in earnings.

SOURCE: SABC

MIXED REACTION TO EIGHT NAMES NOMINATED TO BE PREMIERS OF SOUTH AFRICAN PROVINCES

PRETORIA, May 21 — There has been mixed reaction to the announcement by South Afrifca’s ruling African National Congress (ANC) party of its eight nominees to be premiers of the eight provinces in which the party emerged victorious in the May 7 general election.

The remaining province, Western Cape, remained under the control of the opposition Democratic Alliance (DA), with party leader Helen Zille expected to continue as premier of the province.

The ANC announced on Tuesday that in Gauteng Province — the country’s smallest but most populous and which includes the national administrative capital, Pretoria, and financial capital, Johannesburg — Nomvula Mokonyane will be replaced by party secretary David Makhura.

In North West Province, Thandi Modise will be replaced by provincial chairman Supra Mahumapelo while in Eastern Cape Province, Noxolo Kiviet is replaced by Phumulo Masualle.

KwaZulu-Natal Province premier remains Senzo Mchunu, Free State Province’s Ace Magashule remains as premier, Limpopo Province ANC chairman Stan Mathabatha retains his position, and in Mpumalanga Province, David Mabuza also remains as the premier.

Out of the entire eight provinces under the ANC, only one woman, Sylvia Lucas, will take the position of premier in Northern Cape Province.

The Democratic Alliance (DA) in Gauteng says it is looking forward to see how Makhura will turn the province around. Gauteng has been battling violent service delivery protests and small businesses are not being paid on time, the opposition party said.

Projects such as the Jabulani-Zola and Natalspruit hospital took years to complete leading to millions in cost overruns.

Gauteng Province DA leader John Moody said Tuesday: “He (Makhura) has quite a task ahead of him to turn this province around. His predecessors haven’t been successful, so we watch to see how he will tackle his task and we look forward to five years of robust politicking in Gauteng.”

Business has reacted positively to Makhura’s appointment. South African Chamber of Commerce and Industry(Sacci) chief executive Neren Rau said they had been engaging with Makhura prior to the general election. Rau said most Sacci members have found him to be a very amicable partner to business.

“We hope that in partnership with business, our Gauteng chambers will jointly, with government, work towards more effective performance in delivery within this province,” he added.

“Gauteng has a broader responsibility to the national economy in terms of the contribution it makes. Its centrality therefore places a very strong onus of responsibility in terms of its political and business leadership, in term of ensuring that we continue as an economic hub.”

Eastern Cape Premier Masualle said he would be working hard to improve the standard of living in the Eastern Cape. “It’s really mixed emotions in a sense that first, it’s appreciating the level of trust that the organization has entrusted on me but also it’s in appreciating the magnitude of the task at hand and therefore somewhat this desire to make sure that you do not fail the organization, you do not fail the people.”

Premier Lucas, who has retained her position to lead the Northern Cape, said she felt privileged and would execute her duties with distinction. Lucas will be the fourth premier of Northern Cape and the only female among the incoming ANC premiers.

The ANC has scoffed at suggestions that its failure to have more women premiers is because they don’t have what it takes to lead in provinces. The ruling party had four women premiers after the 2009 election and has now regressed to one. ANC Treasurer-General Zweli Mkhize said the party still have women in key positions.

Opposition parties in the Free State have expressed their disappointment with the announcement that Magashule has retained his position as premier of the Free State.

Both the DA and Economic Freedom Fighters (EFF) say the premier will have to address major challenges in the Free State such as the deteriorating health sector, unemployment and corruption. But the premier says he has a vision for the province.

In KwaZulu-Natal, the ANC says its premier-elect Senzo Mchunu is the ideal person to lead the acceleration of socio-economic transformation in the province. The party’s National Executive Committee approved Mchunu’s continuation as premier.

The ANC Provincial Working Committee is believed to be meeting in Durban deliberating on the new Cabinet. Provincial Secretary Sihle Zikalala said the party was determined to implement the ANC manifesto’s promises in the province.

Meanwhile, political analysts say the ANC National Executive Committee has sought to ensure stability in the provinces with its choice of premiers. Susan Booysen of the Wits School of Governance says the party moved to stop a two centres of power dilemma.

SOUURCE: SABC

DEMOCRATIC ALLIANCE AWAITS NOMINATION OF LEADER OF THE OPPOSITION IN SOUTH AFRICAN PARLIAMENT

CAPE TOWN, May 21– The Democratic Alliance (DA), which strengthened its position as leading opposition party in South Africa’s May 7 general election, has yet to submit its nominee to replace Lindiwe Mazibuko as Parliamentary leader, with the deadline to do so just days away.

The Chairman of the DA Federal Executive, James Selfe, saidhere Tuesday that he was expecting a last-minute rush of names being put forward before a new leader is elected on May 29. It has been widely reported that DA leader Helen Zille favours Mmusi Maimane to replace Mazibuko, who announced last week she was leaving for Harvard to continue her studies.

Political analyst Waheed Patel said the fact that Zille is Premier of Western Cape — the only one of South Africa’s nine provinces not controlled by the ruling African National Congress (ANC) — and not sitting in Parliament, could pose a problem for the party in future.

“It may be relevant in the Western Cape, but is may mean they are compromising certain goals at a national level in terms of utilising Parliament as a national platform for public dialogue and debate and deliberations on issues of national importance.”

Meanwhile, one of the DA candidates for the National Assembly, Yusuf Cassim, will be the youngest Member of Parliament when he is sworn in on Wednesday. Cassim is 24 years-old.

In the past few days, politicians from various parties which will be represented in Parliament, have been lining up to register ahead of their swearing-in. Cassim is the chairman of the DA youth wing and was Student Representative Council president at the Nelson Mandela Metropolitan University in 2012.

Despite being young, Cassim believes he has a significant contribution to make. “Any person who comes in with humility, that would like to discharge their mandate to those who elected them, can make a massive difference,” he said.

He believes that he can inject fresh energy and hard hours. “I can bring in some innovation and I think what I have achieved in the past has shown, that no matter what age, you can make a significance difference in the lives of ordinary people.”

SOURCE: SABC

ECONOMIC FREEDOM FIGHTERS PREPARE FOR ROLE AS OPPOSITON LEADER IN SOUTH AFRICAN PROVINCE

MAHIKEN, May 21 — The Economic Freedom Fighters (EFF), which is now the main opposition party in South Africa’s North West Province, says they are more than ready to work at the provincial legislature.

The EFF leader in the province, Alfred Motsi, said Tuesday that the EFF intended to work with the ruling African National Congress (ANC) to deliver services to communities in the North West.

Following the May 7 general election, the newly-formed EFF has replaced the Congress of the People (COPE) as the leading opposition party in the provincial legislature and Motsi said the party wanted to engage with other more established parties which had more experience regarding conditions in the legislature, including COPE and the United Christian Democratic Party (UCDP). The EFF was set up by expelled former ANC Youth League president Julius Malema last year.

He said that the intention of the engagement was for the parties which did not make it into the legislature to inform them of the challenges, because they were in the provincial government before.

“Various political leaders have converged at the provincial legislature for the orientation ahead of the official announcement of the premiers by the president,” said Motsi.

The ANC won the 2014 North West provincial elections with 67.39 per cent of the vote, followed by the EFF with 13,21 per cent, the democratic Alliance (DA) with 12.73 per cent and the Freedom Front Plus (FF ) with 1,72 per cent.

In the 2009 elections the ANC received 72.89 per cent, followed by COPE with 8.33 per cent, the DA with 8,25 percent, and the UCDP with 5.27 per cent.

SOURCE: SABC