Investment firm TransCentury will merge a number of independent
subsidiaries into two major divisions in a bid to increase operational
efficiency.
The company said on Monday in a notice that
the move would help get rid of duplication of roles that could be
executed under one roof.
TransCentury chairman Zeph Mbugua told the Nation “there would be no job losses whatsoever.”
The arms will be brought under TC Power and TC Engineering and Contracting Divisions.
“The
primary purpose of this proposed reorganisation is to ensure efficient
utilisation of resources and securing of inter-company synergies,” the
firm said.
Subsidiaries dealing in manufacture of power
cables, transformers and switch gears will be consolidated into the
Power Division/Cluster under TC Power, a wholly owned subsidiary
incorporated in Mauritius.
Those involved in provision
of mechanical engineering, civil engineering, logistics, cranage and
erection services and distribution of industrial equipment, will form
Engineering Division or Cluster of TC Engineering and Contracting
Limited also incorporated in Mauritius.
The process will involve integration of the financial, technical and managerial aspects involved in similar processes.
“The
proposed reorganisation is also aligned with the overall group strategy
of consolidating its core businesses and maximising return on
investments for shareholders,” said the firm.
TransCentury,
which has tailed its rival Centum in bagging major power infrastructure
deals in the country, is now seeking to streamline its operations with
the move.
The company has interests in power
infrastructure and engineering with a presence spanning 14 countries in
East, Central and Southern Africa.
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