The management and shareholders of Amalgamated Corrosion Engineering (ACE) have recently welcomed a new controlling shareholder Reindus Holdings as part of its strategy to position itself for growth. ACE was established in the 1960’s with a strong and well reputed skills base in corrosion engineering. ACE has evolved over the decades and is today a leading player in the construction and installation of cathodic protection (CP) and AC Mitigation Systems.
Reindus Holdings is a privately owned and managed South African based investment group that has to date focused on the industrial sector with specific targets in the mining services and engineering services clusters. Reindus recently acquired a controlling stake in Trotech Engineering from the Elgin Group. Trotech fabricates and installs bulk liquid and gas storage tanks and pressure vessels across a variety of industries.
Reindus Executive Chairman Leven Moodley says “the investment in Trotech and ACE was a considered plan that allows the Group to extend its services across the African continent. ACE is already active in Mozambique, Botswana and Zimbabwe and Trotech is busy with a significant project on St Helena Island. Critical mass is key as one grows beyond the country’s borders. We have already seen the synergies between the two businesses.”
Moodley, who chairs ACE, pointed out that “ACE has a positive reputation for delivering technically sound projects with solid construction capabilities. The corporatized ACE is on route to acquiring and developing further skills to ensure that its customers continue to receive a high standard of service in a variety of geographies.”
Raul Sosa, Managing Director of ACE Limitada, is excited by the prospects of this partnership. Sosa explains “New gas discoveries in Mozambique and Tanzania, had sparked a “frenzy” of development strategies around LNG plants as well as distribution pipelines”. Both Trotech and ACE are well placed to offer turn-key solutions in their respective fields through well established businesses, both in South Africa and Mozambique. “The synergy of these businesses coupled with a solid vision from our new shareholders would add significant value to our business strategy, within South Africa and neighbouring territories”.
ACE’s Director of SA Business, Marshall Brady commented that “locally we have built a long term relationship with all of the pipeline operators. We are now looking to expand our product and service offerings to our customer base across the country. We anticipate that being part of the larger Reindus Group will increase our effectiveness and allow us to pursue a greater number of projects simultaneously.
ACE recently relocated from Crown Mines to a new purpose-built facility in Germiston as part of its expansion. The Germiston complex houses the full project management team, the manufacturing plant and all the corporate services.