SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986), technology and world market leader for rail-bound railway systems for the mining sector, has acquired Sareco Engineering CC, a South African supplier of mining equipment. Sareco is market leader for mining chairlifts in southern Africa. The company recorded revenues of more than 20 million South African Rand in fiscal year 2007/08 and enjoyed significantly positive earnings. Sareco's main customers are South African platinum and gold mines.
The previous owners of Sareco, Raymond Browning and John Gibson, will stay with the company as managing director and technical consultant, respectively. The acquisition
The previous owners of Sareco, Raymond Browning and John Gibson, will stay with the company as managing director and technical consultant, respectively. The acquisition
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