Christmas Stock picks: Vp 22/12/2011
Benefits of past investment will benefit Vp, suggests Les Copeland
People: Mining man fills MDM Engineering hot seat
Martin Smith, a trained engineer with more than 20 years’ experience in mining and engineering markets, has been appointed the new CEO of Africa-focused mining project management specialist MDM Engineering.
Smith boasts a CV that includes directorial positions with South African-based mining and engineering group Grinaker-LTA Construction and, more recently, a stint as managing director for the Sub-Saharan region for Bateman Engineering.
At Grinaker-LTA, Smith played a key role in the engineering and construction of the Saldanha Steel plant in the Cape Province, and had a hand in many mining projects across Mozambique, Zambia, Namibia and Botswana.
Welcoming Smith to the fold, Bill Nairn, chairman of AIM-traded MDM, believes he will ‘add tremendous value’ and ‘continue to lead MDM along the growth path we have set’.
MDM made US$5.1 million on $22.4 million sales in the six months to last September and at the current 179p its shares, up from their 52-week low of 54.5p, though off their 185p high, value the group at £66.7 million.
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