“Think Bank” Programme

30 Years Ago

In a major drive to stimulate the stainless steel and 3CR12 fabricating industry in South Africa, Middelburg Steel and Alloys are offering a cash prize of R50 000 for the best thought-out plan for stainless steel or 3CR12 projects, using South African raw materials.

And there are further cash rewards of R5 000, R4 000 and R3 000 to be won.

Middelburg Steel & Alloys has established a “Think Bank” programme under the direction of Mr Kotie Smith.  They believe that a sustained programme of this nature could in the end double the consumption of stainless steel and 3CR12 in South Africa.

The cash prizes represent only a very small part of the massive resources Middelburg Steel & Alloys has set aside to help participants bring their business plans to fruition.

Middelburg Steel & Alloys will provide limited consignment stocks, extended credit, pricing concessions, technical and marketing assistance and other forms of aid for all proposals considered worthy of their support – whether or not they are likely to win a cash reward.

This provision of industry aid will be an on-going exercise with plans being adjudicated at six-monthly intervals.  However, only those plans submitted before November 14, 1986 will qualify for the additional cash prizes.

Middelburg Steel & Alloys are interested in virtually any proposal which increases stainless steel and/or 3CR12 fabrication in South Africa.

Further aims of the “Think Bank” programme are to create new jobs in the steel fabrication industry, to earn foreign currency from new exports and to save foreign currency through increased self-sufficiency.

To this end, fabricators may think in terms of using spare plant capacity, of diversifying current product lines, extending existing product ranges or setting up completely new plant or production lines.

Proposed products can be aimed entirely at export markets, at both foreign and domestic markets, or be planned as import replacement.  Participant’s plans may involve a new SA product or the increased manufacture of an existing product for which there is an established but unsatisfied demand.

To win a cash award, plans must be submitted to Middelburg Steel & Alloys Think Bank, P.O. Box 781815, Sandton 2146, before November 14, 1986.

Cash awards are not intended for personal use.  The purpose they should serve is plan funding or business expansion.

All persons or companies interested will receive up-dated information on the progress of the “Think Bank” programme and may contact Mr Kotie Smith at any time for help and assistance with their plans.  The phone number to call is (011) 783-2060.

msa