Trade, Industry and Competition Minister, Parks Tau has welcomed the withdrawal of the liquidation proceedings against Tongaat Hulett and commended all stakeholders who worked tirelessly to secure a viable path forward for one of South Africa’s most important agro-industrial companies.
“The withdrawal of the liquidation application represents a significant milestone in safeguarding around 250 000 jobs, protecting rural livelihoods, preserving productive industrial capacity and securing the future of the sugar value chain,” the Minister said in a statement on Wednesday.
This as Parliament’s Portfolio Committee on Trade, Industry and Competition also welcomed the agreement reached between the Industrial Development Corporation…