South African design and construction company Neil Muller Construction, (NMC) has signed an empowerment deal with Infinity, a black economic empowerment (BEE) company that is wholly-owned by black women.

With the construction sector currently in the process of developing a BEE charter, NMC said that it was proud to lead the way with a deal that puts 26% of NMC equity into black hands, of which the women-owned Infinity holds 15%.

This follows an earlier move to transformation when in 2002 NMC first issued a 5% shareholding to Charles Adonis, one of its current black directors.

NMC has, furthermore, formed an employee share trust, to which 10% of the company equity has been allocated.

The BEE deal brings forward another chapter for NMC, which yesterday also announced the introduction of a new corporate identity to celebrate its status as a black women empowered company.

The BEE agreement with Infinity includes the participation of one of the Infinity directors, Milase Mzamo, who will serve as an executive director on the NMC board.

Shaun Webber, MD of NMC, said this was crucial in ensuring a sustainable relationship.

Webber said the agreement was preceded by several months of research and negotiations, before NMC made the decision to proceed with the Infinity partnership.

Cape Town-based Infintiy is owned by four black women with business interests in construction, property development, and the wine industry.

Mzamo said her company is very excited about the deal, as it will allow Infinity to gain a foothold in the construction business.

"We were keen to associate ourselves with a company that fits our vision, one of which is the requirement for active participation, as we are looking at adding value to the business and not to just making up numbers," she affirmed.

Further to this, both parties agreed to explore enterprise development.

NMC said it would be chamging its corporate image, saying the name Neil Muller Construction will, in future, be used only in the abbreviated NMC format - which transcends language and cultural barriers.

Engineering News 2004/03/12