Stefanutti Stocks
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Stefanutti StockS Delivering complete construction and contracting solutions
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tefanutti Stocks is a name synonymous with construction in Southern Africa. One of the industry leaders, it is able to deliver projects of any scale to a multitude of clients in diverse markets. With 12,000 employees, Stefanutti Stocks is a Level Three B-BBEE contributor that carries a Grade 9 rating from the South African Construction Industry Development Board (CIDB) for unlimited tender capability. AFRICA AND BEYOND Stefanutti Stocks operates across all provinces of South Africa. In sub-Saharan Africa the group has established a presence in Angola, Botswana, Ghana, Mozambique, Namibia, Nigeria, Sierra Leone, Swaziland, Tanzania, Zambia and Zimbabwe. Outside of Africa, the group has businesses in Dubai, AbuDhabi and Qatar. There are various business units across its geographical areas of operation. These business units include divisions in South Africa and operating companies in sub-Saharan Africa. In the Middle East region the group’s associates in the UAE comprise of Al Tayer Stocks, an interior fit-out and refurbishment business; and electro-mechanical contractor Zener Steward LLC. In Qatar the Rabban Stefanutti Stocks partnership is involved in general construction.
It is important to comprehend just what Stefanutti has the capability for over such a wide spectrum of projects. It proves itself as a multidisciplinary construction group, with capabilities spanning a broad range of industries including: • Building construction and mass housing • Environmental • Heavy industry • Marine • Mining services & mining infrastructure • Oil & Gas and Petrochemical • Power • Telecommunications • Transport nodes, roads & infrastructure; and • Large dams, water transfer schemes & waste water.
DIVERSITY Stefanutti Stocks knows that the key to success in the construction industry is diversity, which is why it has worked hard to strategically position itself with a portfolio of both conventional and niche skills. Being able to seamlessly mobilise across the group (and into the rest of Africa) is an asset integral to the group’s multidisciplinary nature. The business units in which African operations are divided into are Roads, Pipelines and Mining Services (RPM) Structures, Building, Corporate Services and Mechanical and Electrical. These are based on localised operations which are firmly established and backed by premier brands, financial strength and common values. The group also has specialist construction capabilities which include marine, geotechnical and piling, slipforming, incremental bridge launching, electrical & instrumentation, mechanical, oil & gas, tailings disposal dams and bulk pipeline construction One of the group’s mottos is ‘If you can dream it, we can construct it.’ This summarises Stefanutti’s approach to their client’s wants and needs, from specialist construction to simple projects, the organisation will deliver across the scale.
SWAZILAND OPERATIONS Stefanutti has grown to become one of the biggest contractors in Swaziland undertaking building, civil and roads & earthworks contracts. The successful completion of a broad range of projects includes the Sikhupe International airport, LUSIP main canal and the Public Service Pension Fund office park in Mbabane. Based in Matsapha, the Swaziland unit has built up a strong reputation to become a preferred construction partner in Swaziland and bordering countries since the late 1980s. MAYDON WHARF Stefanutti Stocks entered into a joint venture with Axsys Infrastructure to become the main contractor for a major upgrade on the Port of Durban in April 2014. The R1.6 billion project forms an integral part of Transnet’s Market Demand Strategy which aims to improve the port system to promote economic growth. The project involves the reconstruction and deepening of six of the 15 berths in this precinct, with the Maydon Wharf entrance channel needing to be deepened to enable larger vessels to enter the port. Transnet Capital Projects (TCP) – which is overseeing the project, recently achieved a safety milestone of 1,000,000 Man Hours without a Lost Time Injury (LTI) on the project. Shane Perumal, Project Manager, said: “There has been a huge safety commitment from the Project Managers, the main contractor Stefanutti Stocks AXSYS Joint Venture, and subcontractors, to provide continual training, preventative programmes, communication of safe work practices, sharing of lessons learned from observations and incidents and
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good site safety vigilance. This ensures that everyone – from labourers to senior management- works safely every day.” STAFF AND THE ENVIRONMENT Stefanutti Stocks’ divisions are all accredited and audited by industry bodies in line with industry standards and requirements. The group doesn’t stop there, its intensive development and training programmes for staff means employees are continually raising their performance. “We have established a culture of investing in people, which provides the framework for personal growth and development of our employees, our colleagues and our peers. At the same time, our people are given the tools to take responsibility and ownership,” says Stefanutti. A safe working environment is crucial to enhancing the wellbeing of employees, and Stefanutti is committed to providing this. Testament to his is the Group Lost Time Injury Free Rate (LTIFR). Numerous awards from industry associations have recognised the group’s outstanding performance. The environment is another important consideration for the Group.Ithasimplementedprogrammesandpoliciestominimise the adverse effects its operation has on the environment. This includes reviewing the methods of construction, and use of materials to allow for a greener project construction process. Stefanutti is also passionate about contributing all it can to the local community. To this end it is involved in a number of Economic Development initiatives in local areas to focus primarily on education. CHALLENGING TIMES Willie Meyburgh, CEO of Stefanutti Stocks, acknowledges that the environment for construction business is a tough one at present. Despite this, the group achieved satisfactory results in its last financial statement. “This is despite an extremely challenging trading environment, stated Meyburgh. Management regularly review
and align each business unit and its respective divisions with the changes in their particular markets to ensure ongoing sustainability.” The issue of supply and much less demand is a major problem. The construction industry is undergoing a challenging period, as Meyburgh acknowledges. “The high levels of competition for available work may negatively impact operating profit margins going forward. However, we are of the view that potential growth prospects exist in certain sectors of the economy, which provide opportunities for our Roads & Earthworks, Building, Oil & Gas and Electrical & Instrumentation operations.” In other sectors, the group says it is well positioned to take advantage of the medium-sized projects coming to the marketplace to maintain the order book. ”Our multi-disciplinary and geographically diversified business structure provides a robust platform on which the group is able to position itself as a strong competitor in the southern African construction market. We will also continue to look for opportunities both in southern Africa and on a more selective basis further afield in sub-Saharan Africa.”
Oliver Moy Publisher For enquiries email okm@aubusinesscoverage.com