|Bid||30.05 x 800|
|Ask||30.20 x 1000|
|Day's range||29.97 - 30.14|
|52-week range||28.31 - 39.73|
|Beta (3Y monthly)||0.97|
|PE ratio (TTM)||28.76|
|Forward dividend & yield||0.97 (3.24%)|
|1y target est||39.00|
South Africa’s Solidarity labor union plans to escalate a strike at energy and chemicals company Sasol Ltd. from Sept. 6 over the exclusion of white staff from an employee-shareholding plan, deputy General-Secretary Deon Reyneke said. Members of the union began protests including a so-called go-slow at the company on Monday, Reyneke said in a phone interview. The full strike later this week will take place at Sasol’s Secunda plant, with workers planning to present a memorandum at its Sasolburg facility, according of the union.
On July 2, Honeywell (HON) announced that Sasol South Africa Secunda Synfuels Operations will use the company’s connected plant to monitor the operating reliability of two of Honeywell’s already installed UOP CCR Platforming units at a refinery in Secunda, South Africa. HON’s UOP has shown significant growth, and new business wins like this indicate the growth trend could continue.
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Sasol Ltd. built its business making fuel from coal, shielding apartheid-era South Africa from sanctions. The $11 billion Lake Charles project will catapult Sasol’s chemicals revenue to more than 70 percent of the company’s total once fully up and running, and the share is likely to get even bigger over time, co-Chief Executive Officers Bongani Nqwababa and Steve Cornell said in an interview this week at Bloomberg’s Johannesburg offices. While the group is still looking to expand the number of gas stations it operates in its home market and boost natural gas output in Mozambique, the best international growth opportunities are in specialty chemicals, which are used in products from cosmetics to hardware, Cornell said.
White employees of Sasol say the South African energy company is discriminating against them by offering a share scheme exclusively to black staff. Serena Chaudhry reports.