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S A Metal Finisher Issue 28
From the Editor Sustaining Members

Tony van der Spuy

It’s getting more difficult to find something
positive to say about the prospects of
growing and strengthening our industry
when we are beset from every quarter
with the worst possible news. The leader article in the
August 4 edition of the Business Sunday Times titled “Worse
news follows bad, and don’t look to business or state” makes
for a depressing read.
Fitch, the rating agency, downgraded us another notch and
the word is that Moody’s, the only agency to keep us out of
junk status, is now reviewing their position on that. Our E S Mowat
unemployment rate has reached 29% with 6.7 million people & Sons
looking for jobs. (Pty) Ltd
The woes at our State Owned Enterprises continue unabated
while private sector whiz kid turnaround specialists walk
away from the projects long before we see any apparent
impact from their ministrations. When that happens we start
to believe that the problems are not solvable.
Eskom poses an enormous threat to the whole economy as
the R500 billion debt marker approaches fast. We used to
think it was only SOEs but with giant companies in the private
sector like Steinhof and Tongaat Hulett displaying similar
results one wonders where guidance is going to come from.
Our Powder Coating Survey in this issue reveals that
members have seen turnovers shrinking by 10% - 15%. Some
businesses, which are presumably fortunately positioned,
claim to have seen reasonable growth.
Now is the time for businesses to employ every resource
conservation technique in the book. Those who have not
harvested basic rewards implementing a resource conserva-
tion plan should take a serious look at doing so now.
We know that business moves in cycles. What goes down
comes up again. The old Afrikaans saying “Alles sal reg kom,
maar wanneer?” seems to describe the situation perfectly.
Anyway, that’s it from me. Thanks for your ongoing support.
It is much appreciated. I hope that you find the content of
this issue of our magazine relevant and informative.

SAMFA, PostNet Suite 39, Private Bag X3, Plumstead,
7801. Email: headoffice@samfa.org.za
Tel: 021 761 8537 Fax: 086 620 5145
Cell: 082 553 2463 Website: www.samfa.org.za

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