Cape company concludes BEE deal

RAY SMUTS
ANCHOR INDUSTRIES, a supplier of offshore mooring chains and anchors, has concluded a broad-based black economic empowerment (BBBEE) agreement in conjunction with Old Mutual Investment Group South Africa. In terms of the deal, Anchor Industries’ staff will receive 25.1% of the company’s equity in the form of a Staff Share Trust. Established in 1994, Anchor Industries is a Cape Town-based, privately-owned company.