![]() | This article may contain excessive or inappropriate references to self-published sources .(June 2017) |
Company type | Public |
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JSE: TON, LSE: THL | |
Industry | Sugar |
Founded | 1892 |
Key people | Liege Hulett, founder JG Hudson, CEO |
Revenue | ![]() |
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Number of employees | 31, 230 [2] |
Website | www www |
Tongaat Hulett is an agriculture and agri-processing business, focusing on the complementary feedstocks of sugarcane and maize. The company had its origins on the North coast of KwaZulu-Natal, specifically the town of Tongaat (now oThongathi). The company was formed as a result of a merger between the Tongaat Sugar Company founded by Edward Saunders and Hulett's Sugar founded in 1892 by Liege Hulett. [3] Company stock is listed on the Johannesburg Securities Exchange. Its core businesses are sugar, starch and property management.
In the 2014/15 season, 1.314 million tons of sugar were produced. [4]
Tongaat Hulett's had three sugar estates in Zimbabwe in Chiredzi District and they bordered one another.
Voermol Feeds, based in Maidstone, produces molasses-based animal feeds.
Cape Sweeteners, based in Durban, is a subsidiary of Tongaat Hulett Sugar, producing artificial sweeteners including; aspartame, neotame, acesulfame-K, fructose, sodium saccharin, sodium cyclamate, polydextrose, maltitol and lactitol. It is the exclusive South African agent of Nutrasweet's aspartame and neotame
Tongaat Hulett Starch, previously African Products is Africa's largest producer of starch and glucose, produced at five South African factories.
Tongaat Hulett Developments is a land conversion and development company that carries out land conversion activities by collaborating closely with the public sector, communities and other businesses.
At the end of 2018, the CEO, Peter Staude took early retirement [5] and the chief financial officer, Murray Munro, went on sick-leave. [6] In January 2019, a new CEO was appointed. In February 2019, the company announced a drop in expected profits [7] as well as a liquidity crisis. [8]
In May 2019, the company announced that its published financial results could not be relied on and that the company's equity (the value of the business after liabilities) in its 2018, financial results has been overstated by between R3.5 billion to R4.5 billion [9] in addition revised financial reports would be published in October 2019. [10] The Zimbabwean operation of Tongaat-Hulett has also not been able to provide reliable financial reports in 2019 on time. [11] The auditing firm, PricewaterhouseCoopers were employed to do a forensic audit. [9] The diligence of the company's regular auditors, Deloitte has been called into question. [12] The company suspended trading on the Johannesburg Stock Exchange. [13] In late June 2019, the company laid a criminal charge against an unnamed executive. [14] [10] In an effort to survive the company is cutting costs and has sent retrenchment letters to 5000 employees. [9] [15] In August 2019, the company decided to remove itself from the list of traded companies on the London Stock Exchange. [16]
In February 2022, seven people connected with the scandal namely, Peter Staude, Murray Hector Munro, Michael Edward Deighton, Rory Edward Wilkinson, Kamasagrie Singh, Samantha Shukla and Gavin Dykes Kruger appeared in the Durban Specialised Commercial Crimes Court and were granted bail. [17] The appeared in court again in April 2022. [18]
Aspartame is an artificial non-saccharide sweetener 200 times sweeter than sucrose and is commonly used as a sugar substitute in foods and beverages. It is a methyl ester of the aspartic acid/phenylalanine dipeptide with brand names NutraSweet, Equal, and Canderel. Aspartame was approved by the US Food and Drug Administration (FDA) in 1974, and then again in 1981, after approval was revoked in 1980.
Diet or light beverages are generally sugar-free, artificially sweetened beverages with few or no calories. They are marketed for diabetics and other people who want to reduce their sugar and/or caloric intake.
Kearsney College is a private boarding, English medium high school for boys in Botha's Hill, a small town between the provincial capital of Pietermaritzburg and Durban, in the KwaZulu-Natal province of South Africa.
Eskom Hld SOC Ltd or Eskom (Afrikaans: Elektrisiteitsvoorsieningskommissie) is a South African electricity public utility. Eskom was established in 1923 as the Electricity Supply Commission (ESCOM). Eskom represents South Africa in the Southern African Power Pool. The utility is the largest producer of electricity in Africa, and was among the top utilities in the world in terms of generation capacity and sales. It is the largest of South Africa's state owned enterprises. Eskom operates a number of notable power stations, including Matimba Power Station and Medupi Power Station in Lephalale, Kusile Power Station in Witbank, Kendal Power Station, and Koeberg Nuclear Power Station in the Western Cape Province, the only nuclear power plant in Africa.
Tate & Lyle PLC is a British-headquartered, global supplier of food and beverage products to food and industrial markets. It was originally a sugar refining business, but from the 1970s, it began to diversify, eventually divesting its sugar business in 2010. It specialises in turning raw materials such as corn and tapioca into ingredients that add taste, texture, and nutrients to food and beverages. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Mount Edgecombe or Mt Edgecombe is a town in KwaZulu-Natal, South Africa, situated just north of Durban, which forms part of eThekwini, the Greater Durban Metropolitan area. Much of the suburb is cordoned off as a gated settlement comprising resorts, golf courses and a retirement home. It was previously a sugar growing area. The population increased by 89% between 2001 and 2011 from 3,874 to 7,323. Its name is derived from the Earl of Mount Edgecombe in Cornwall, United Kingdom.
oThongathi, previously and still commonly known as Tongaat, is a town in KwaZulu-Natal, South Africa, about 40 kilometres (25 mi) north of Durban and 28 kilometres (17 mi) south of KwaDukuza. It now forms part of eThekwini Metropolitan Municipality, or the Greater Durban area. The area is home to the oldest Indian community in South Africa, having been where the first indentured Indian laborers settled in 1860 to work in the sugar-cane plantations. Much of the architectural style in the town was the work of Ivan Mitford-Barberton, and many buildings are in the Cape Dutch style of architecture.
Triangle is a small town in Masvingo Province, Zimbabwe, and is located 125 km south-east from Masvingo, between Ngundu Growth Point and Chiredzi. The town is located in the district of Chiredzi, one of the seven in Masvingo Province.
Sir James Liege Hulett was a British sugar magnate, politician and philanthropist in Colony of Natal, South Africa. Hulett founded what would become Tongaat Hulett Sugar in 1892. The JSE Securities Exchange-listed company is today a multi-billion rand corporation.
Edcon Limited was a retail company based in Johannesburg, South Africa. Its subsidiaries included Edgars, a department store with 203 branches. In 2020, the Competition Tribunal approved the sale of the Edgars division to Retailability (pty) Ltd, and Jet to The Foschini Group.
A district in Zimbabwe, Masvingo Province
Hippo Valley Estate is a sugar estate found near the town of Chiredzi in Chiredzi District of southeastern Zimbabwe, on the Runde River near the border with Mozambique.
Barloworld Limited is an industrial brand management company, founded in South Africa. Once a large conglomerate with many unrelated businesses, ranging at various times from mining, information technology and building materials to motor vehicles, it has repositioned itself as an industrial brand management company and unbundled many of its assets. Its headquarters was at the sprawling Barlow Park campus in Sandton, Johannesburg. It had been sponsor of the Barloworld cycling team.
Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam.
La Lucia is a wealthy suburb located in uMhlanga in the KwaZulu-Natal province of South Africa and is situated approximately 14 kilometres north of the Durban CBD. It was named after Lucia Michel. She and her husband Albert Michel founded the sugar cane farm La Lucia.
Ingredion Incorporated is an American food and beverage ingredient provider based in Westchester, Illinois, producing mainly starches, non-GMO sweeteners, stevia, and pea protein. The company turns corn, tapioca, potatoes, plant-based stevia, grains, fruits, gums and other vegetables into ingredients for the food, beverage, brewing, and pharmaceutical industries and numerous industrial sectors. It has about 12,000 employees in 44 locations, and customers in excess of 120 countries.
Sir Marshall Campbell (1848–1917) was a pioneer of the sugar industry in the Colony of Natal and parliamentarian concerned with Bantu affairs.
Markus Johannes Jooste is a South African businessman and the former CEO of Steinhoff International. He is an avid horse breeder, and in 2016 was reported to be one of Africa's richest people, worth $400 million. Joining forces with Christo Wiese in 2014, they embarked on an aggressive international expansion programme. The share price of their conglomerate reached a peak in March 2016, favouring their strategy of paying for dividends and acquisitions by sales of stock.
Edgars is a Johannesburg-based chain of stores present all over Southern Africa. The department store was previously selling clothing, shoes, homeware & beauty and under new leadership has recently shifted its focus to mass-market fashion and beauty products.
Kagera Sugar Limited (KSL), is a sugar manufacturer in Tanzania. As of 2019 Kagera Sugar was the third largest producer of sugar in the country, accounting for 17 percent market share.