South African engineering, contracting and construction services group Murray & Roberts (M&R) is planning to dispose of its Cape Town Iron & Steel Works (Cisco) business as a “priority”, owing to the continued underperformance of this business.
In October, the group announced that it would start a programme of closure or disposal of underperforming assets, as some of the markets which it served had become increasingly stressed, a situation that would not likely improve in the medium term.
more: http://www.engineeringnews.co.za/article/mr-plans-to-sell-underperforming-cisco-business-2010-11-09
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