BBBEE Rating Update
Refractory & Metallurgical Solutions has improved its BBBEE rating to level 4, in the latest 2022 audit. This has been a 4 year journey for the company to improve its rating from being non-compliant. In addition, the company improved its ownership structure in 2019 to have more than 36 percent black ownership, and achieved its SABS accreditation for localised produced refractory brick.
Managing Director, Dennis Brazier, comments “RMS has come a long way since exiting business rescue in 2016, looking at structuring the business to embrace transformation at all levels in the organisation. We tackled to most difficult aspect with shareholding, concluding an empowerment deal in 2019 to lift black owned shareholding to above 30 percent. We also embarked on focusing the other elements under procurement and skills development. These projects had to be completed over 3 years with results coming through from 2021. We are just starting. Our vision drives us to embrace the empowerment challenges.”
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