WG Wearne, one of SA’s oldest suppliers of building and construction materials, has resumed the search for a buyer of its 146ha Muldersdrift quarry after its nonbinding agreement with a consortium that was eyeing the asset lapsed. The sale of the asset is part of a wider strategy to dispose of noncore assets and is supposed to ease WG Wearne’s cash flow pressure and concerns about liquidity.  The company has previously said its trading environment had become tougher because of declining economic growth, high levels of competition and an oversupply of cement in the industry. The company has said in the past that the oversupply of cement and lack of infrastructure spend by the government heightened competition in its key markets. In January WG Wearne entered into a term sheet, which is a nonbinding agreement that contains terms and conditions of a deal, with AGW Consortium in relation to the Muldersdrift quarry, a granite quarry in Muldersdrift, near Krugersdorp.  The company ha...

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