When Afrimat was formed and listed on the JSE in 2006 it had little more to offer the market than its quarrying and concrete block operations. Afrimat founder and CEO Andries van Heerden had far more ambitious plans. Afrimat is diversifying on a broad front, including its latest move into iron ore. It made its first move along the path of diversification in 2010, through the acquisition of metallurgical dolomite producer Glen Douglas. Two other key acquisitions followed. Clinker producer Clinker Supplies came on board in 2012 and dolomite, limestone and silica producer Infrasors a year later. The acquisitions were to prove that Afrimat had the ability to integrate acquisitions, to extract value from them and, with Infrasors, to restore a troubled company to health. Since 2010, growth has been exceptional. In its year to February 2010 Afrimat generated revenue of R778m and headline EPS (HEPS) of 51.3c. Six years on, in its year to February 2016, revenue had grown to just short of R2b...
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