Aveng sells pumps and valves business to black-owned Copaflo

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The sale to the 100% black-owned investment firm is part of the group’s disposal of noncore assets

Struggling construction group Aveng has sold its pumps and valves business, Aveng Dynamic Fluid Control , for R165m, the company said on Friday.

The group has identified engineering, construction and maintenance contractor McConnell Dowell and Moolmans, one of Africa’s largest surface mining contractors, as core businesses. The group said Copaflo is a 100% black-owned investment company with interests in engineering and manufacturing.

 

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