ELB mulls sale of Australasian business
The company has suffered losses recently from its work at the Gamsberg zinc project in the Northern Cape
08 January 2020 - 10:01
Capital equipment provider and engineering firm ELB Group said on Wednesday it may sell its Australasian equipment business as it grapples with cash-flow problems stemming from a loss-making contract.
ELB is also downsizing its head office and restructuring its engineering business, with the company citing a depressed trading environment and the heavy losses it incurred from its work at the Gamsberg zinc project in the Northern Cape...
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