Paper, packaging and graphic solutions provider, Antalis South Africa recently announced it will become a black empowered company in the industry. This is as a result of the 100 percent local buyout of shares currently owned by Antalis International.
In the process of divesting from South Africa, Antalis International sold all its shares to two existing Antalis South Africa directors. The company will continue to trade as Antalis South Africa.
The entity becomes an entirely South African owned company that is 51 percent black and 30 percent black female-owned. Antalis South Africa’s B-BBEE maximum procurement recognition level will enable the company to partner with government, state-owned entities and other organisations that prioritise South Africa’s transformation agenda. The company has a net asset value exceeding R200 million and an annual turnover of more than R1 billion.
The new shareholder team comprises Antalis South Africa’s existing financial director Neelesh Kalidas, who will serve as joint managing director. Together with his business partner, they will own a combined 51 percent of Antalis South Africa, with a 30 percent black female shareholding.
Raymond Waldeck, MD of Antalis South Africa, will hold the remaining 49 percent of the company, and will also assume the role of joint managing director.
Each MD will concentrate on business functions specific to their core strengths for operational efficiencies and market optimisation.
‘Kalidas and Waldeck realised that the buyout opportunity presented by Antalis International would result in the formation of a truly empowered South African entity. Together with our 320-strong team, we will continue to serve existing and new customers with excellent service, innovative product ranges and industry expertise that Antalis customers have come to expect. These are elements critical to the ongoing success of the business,’ says Romano Daniels, spokesperson for Antalis South Africa.
‘Antalis South Africa will continue to be a reputable contributor to the local paper, packaging and graphic solutions market. We are proud to lead meaningful transformation of the industry that is long overdue, with this transaction.’
With an eye firmly on how digitisation and shifts in the commodity markets are changing the pulp, paper, and packaging trade worldwide, Daniels confirms that company aims to continue increasing its focus on market opportunities in packaging, graphic equipment and visual communications. This is inclusive of signage and display as well as logistics services.
‘As the global demand for commodity paper changes, established businesses like Antalis South Africa, are taking advantage of technological advances that create opportunities for new services, innovative product developments and overall industry growth,’ he says.