TransCentury to merge divisions into two units

Trans-Century Chairman Zeph Mbugua with Managing Director Dr Gachau Kiuna at a past event. PHOTO | FILE |

What you need to know:

  • Subsidiaries dealing in manufacture of power cables, transformers and switch gears will be consolidated into the Power Division/Cluster under TC Power, a wholly owned subsidiary incorporated in Mauritius.
  • Those involved in provision of mechanical engineering, civil engineering, logistics, cranage and erection services and distribution of industrial equipment, will form Engineering Division or Cluster of TC Engineering and Contracting Limited also incorporated in Mauritius.
  • The process will involve integration of the financial, technical and managerial aspects involved in similar processes.

Investment firm TransCentury will merge a number of independent subsidiaries into two major divisions in a bid to increase operational efficiency.

The company said on Monday in a notice that the move would help get rid of duplication of roles that could be executed under one roof.

TransCentury chairman Zeph Mbugua told the Nation “there would be no job losses whatsoever.”

The arms will be brought under TC Power and TC Engineering and Contracting Divisions.

“The primary purpose of this proposed reorganisation is to ensure efficient utilisation of resources and securing of inter-company synergies,” the firm said.

Subsidiaries dealing in manufacture of power cables, transformers and switch gears will be consolidated into the Power Division/Cluster under TC Power, a wholly owned subsidiary incorporated in Mauritius.

Those involved in provision of mechanical engineering, civil engineering, logistics, cranage and erection services and distribution of industrial equipment, will form Engineering Division or Cluster of TC Engineering and Contracting Limited also incorporated in Mauritius.

The process will involve integration of the financial, technical and managerial aspects involved in similar processes.

“The proposed reorganisation is also aligned with the overall group strategy of consolidating its core businesses and maximising return on investments for shareholders,” said the firm.

TransCentury, which has tailed its rival Centum in bagging major power infrastructure deals in the country, is now seeking to streamline its operations with the move.

The company has interests in power infrastructure and engineering with a presence spanning 14 countries in East, Central and Southern Africa.