Despite commodity slump, M&R bets future on resources

Murray & Roberts (M&R) CEO Henry Laas says the decision to sell its infrastructure and building unit, as well as Genrec, to create a multinational project company focused on oil and gas, underground mining, as well as power and water has created an entity that no longer fits neatly within the JSE’s ‘Heavy Construction’ categorisation – a reality that may, ultimately, even necessitate a transfer to a different subsector. Such a move, should it ever take place, would be remarkable, given that ...