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Manufacturers to appeal tariff hikes

Sep 28 2011 07:00 Sapa

Company Data

SABMILLER PLC [JSE:SAB]

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Cumulative volume 5578891
Market cap 1.07tr

Last Updated: 18-09-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

HULAMIN LIMITED [JSE:HLM]

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Cumulative volume 31376
Market cap 2.38bn

Last Updated: 18-09-2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

MONDI LIMITED [JSE:MND]

Last traded 0
Change 1,6
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Cumulative volume 722641
Market cap 23.20bn

Last Updated: 18-09-2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Manufacturers will appeal to the National Energy Regulator of SA (Nersa) for relief on its planned electricity tariff hikes, according to a newspaper report on Wednesday.

The manufacturers said the increases would force many companies out of business, the Business Day reported.

Price cuts were needed for distressed industries as well as reductions in the proposed 25% electricity price hikes pencilled in for the next couple of years, chairperson of industry group the Manufacturing Circle Steward Jennings told the daily newspaper on Tuesday.

Electricity prices for manufacturing had climbed 140% in the past four years, making it one of the main drivers of rising costs for industry, Jennings said.

"We have to attack these militant price increases... we can't afford another two years of 25% increases. We will fall out (of business), we are already falling out," he said.

Jennings said Manufacturing Circle would submit a white paper on its appeal for reductions on the tariff to Nersa before the end of the year.

The industry group represents 56 large companies including SABMiller [JSE:SAB], ArcelorMittal [JSE:ACL], Pretoria Portland Cement [JSE:PPC], Hulamin [JSE:HLM], Mondi [JSE:MND] and Allied Electronics Corporation [JSE:ATN].

Manufacturing accounts for 15.6% of the economy's overall output.

 
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