M&R reaches out to grieving families

One of the vehicles crushed below the debris of the bridge which collapsed on the M1 highway at the Grayston off-ramp. 2 people were killed and 21 injured. 151015. Picture: Chris Collingridge 231

One of the vehicles crushed below the debris of the bridge which collapsed on the M1 highway at the Grayston off-ramp. 2 people were killed and 21 injured. 151015. Picture: Chris Collingridge 231

Published Oct 16, 2015

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Johannesburg - Murray & Roberts has been contacting the families of those who died when the structure supporting a pedestrian bridge over the M1 collapsed on Wednesday afternoon.

In a statement issued by CEO Henry Laas, the company says it spent Thursday meeting with the families of the deceased. He adds: “We have also spoken with a number of the injured and will ensure they, and all affected parties, are receiving the necessary care and monitor their recovery.”

The bridge, which was called the Great Walk and was meant to be complete by the end of the month, collapsed around 3.30pm on Wednesday afternoon, killing three people and injuring 20 others. Reports indicate the company, which carries insurance against such incidents, will compensate the families of those who died.

The collapse of the bridge also left many motorists angry as they battled to get home, with many taking two or more hours to travel a few kilometres. The bridge is meant to connect the thousands of people who live in the Alex township to places of work in Sandton.

In the last hours of trade in shares on Wednesday, Murray & Roberts’ stock fell 7 percent and dropped below the R5 billion market capitalisation mark. Although the stock staged a marginal recovery on Thursday, it closed down 0.45 percent, to end the day at R11.10.

Laas says the company expresses its “deepest gratitude to all those who worked through the night to coordinate the rescue and clearing operations. We also thank the public for their compassion and understanding during this incredibly difficult and tragic time.”

The freeway was reopened at 3pm on Thursday.

Laas says the next stage will see Murray & Roberts working closely with a team of independent counselling and trauma practitioners to ensure they are given all appropriate assistance.

In addition, the company has launched an independent investigation to get to the bottom of what happened, while transport minister Dipuo Peters has called on authorities to conduct a “thorough investigation” into the collapse. The Department of Labour is also investigating the issue.

“There are a number of investigations underway to determine the cause or causes of the collapse of the bridge support structure. At this point, we are unable to comment on how long the investigations will take and when they will conclude and we once again appeal to the public to await the outcome. We are as concerned as everyone to understand what happened, and commit to sharing information as soon as the investigation is complete,” says Laas.

Murray & Roberts has experienced difficult times recently, as it agreed in 2013 to pay a fine of R309 million for 17 prohibited practices or contraventions of the Competition Act.

The sector is also battling the headwinds of an economic slowdown, lower than expected government spending, and margin squeeze.

In August, M&R reported a 1.9 percent decline in diluted headline earnings a share from continuing operations to 201c in the year to June, with revenue from continuing operations decreasing by 15 percent to R30.6 billion.

Over the past decade, its share price has lost 40 percent of its value.

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