Macsteel, South Africa’s biggest steel merchant, said yesterday that it had appointed Tom Cowan as chief operating officer (COO) after serving 29 years at the group.
The group said that prior to his promotion, Cowan was business executive for Macsteel VRN and Cowarn had spent the first 20 years of his career at the group developing Macsteel’s Fluid Control into a fully functional, free-standing business unit.
“Being appointed as COO at Macsteel is an honour. This is a time of great transformation in our business, and serving such a large customer base in a fast-changing world is a thrilling prospect,” said Cowan.
Macsteel reached an out-of-court settlement with the Department of Trade Industry and Competition (dtic) last month after the department agreed to suspend the safeguard duties on hot-rolled coil products for two years.
Macsteel challenged the decision by the International Trade Administration Commission and the dtic to extend safeguard duties on hot-rolled coil for a further year, citing that it was illegal.
BUSINESS REPORT