The Paarl Media Group, a leader in the printing and manufacturing sector, today announced its intention to list on the JSE as Novus Holdings.
Chief Executive Officer, Stephen Van Der Walt says the listing is a step as part of the Group’s strategy to unlock its growth potential and diversify into manufacturing and technology that is related to its current core business of print. This is reflected in the name change to Novus Holdings, which in Latin means “new” and is consistent with its new strategy, new prospects and new technology.
“Over the last two decades Novus Holdings has built a strong financial platform through successful acquisitions, organic growth and an innovative management team, utilising world-class technology in our various facilities. As a result, the company has emerged as a market leader,” he says.
“With such strong foundations in place, and with significant growth potential on offer through extending and diversifying our product range in the sub-Saharan region, we believe the time is right to take the next step and explore diversification directly linked to our core competencies while consolidating market positions in our current facilities,” says Van Der Walt.
“Subject to JSE approval, the Group intends to trade its shares under the ‘Diversified Industrials’ sector classification on the JSE, alongside companies with a similar diversification strategy and mindset,” says Van Der Walt, adding, “We are confident of our growth prospects and it will be our intention to consider the payment of dividends to shareholders as the Group sees fit .”
According to Van Der Walt the listing should enable Novus Holdings and its subsidiaries to attract and retain key and talented staff and build a strong brand presence while diversifying in sub-Saharan Africa.
The listing price will be announced shortly before listing, which is expected to be during March 2015.
The Board of Novus Holdings is intended to comprise of 11 directors of which six will be independent non-executive directors. Two of the 11 directors will be appointed from the majority shareholder, Media24.
“The re-naming of Paarl Media Group to Novus Holdings does not affect the current brands of the Group. Paarl Media, Correll Tissue and Paarl Labels will retain their identity under Novus Holdings and additional brands will be added during the diversification process,” says Van Der Walt.
“The company has a strong market position in workbooks, magazines newspapers, catalogues, retail inserts and books with most major publishers and retailers throughout sub-Saharan Africa as clients,” concludes Van Der Walt.
Capacity in self-adhesive labels, wet glue labels and tissue manufacturing is currently being enhanced as market share is gained.
About Novus Holdings
Novus is a leader in the printing and manufacturing sectors. It operates eleven specialised printing plants and one tissue plant across South Africa. The company services the country and parts of Africa through its print production of all medium to long run requirements of magazines, retail inserts, catalogues, books, newspapers, commercial work, labels, educational materials and manufacturing of tissue products.
The holding company’s competitive advantage is entrenched in its strong foundation of more than 100 years of experience in offering its clients a comprehensive range of facilities. Correll Tissue, the Group’s tissue manufactures branded tissue products of consistent quality at competitive market prices.
Novus Holdings is recognised as having the most technically advanced, expert and experienced staff with over 1800 employees and over 500 enterprise development employees.
The holding company’s commitment to skills development and transformation is evident through the development of its own Academy. Novus Academy is an internationally accredited training institute committed to skills development and transformation. This is further reflected in the current scorecard of a Level Three B-BBEE accreditation.
Responsible business practices are a top priority with the company leading industry through the development of stringent environmental policies to limit the impact on natural resources. Print division, Paarl Media (FSC-C022948) was the first African printer to receive FSC™ (Forest Stewardship Council™) CoC (Chain of Custody) certification. The company holds PEFCTM (Programme for the Endorsement of Forest Certification) certification for the Paarl Media Cape and Paarl Media Paarl plants.