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Ghana: AMS Buys Taysec Mining for $20 Million

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Ghanaian Chronicle (Accra)

25 July 2008
Posted to the web 25 July 2008

Stephen Odoi-Larbi

Information reaching the Business desk of The Chronicle indicates that Taysec Construction Limited has sold its mining division to Australian Mining Services (AMS), for a whooping amount of US$20million.

"Disposal of the mining business in Ghana will enable the local subsidiary, Taysec Construction Limited, to focus on its core activities of residential development and complex contracting projects", according to a statement released in Accra.

Taywood Mining has for the past decade been providing contract mining services to AngloGold Ashanti at Iduapriem, and has successfully in February, completed the second five year contract it had with AngloGold.

Following its success in completing the contract, an extension was awarded to the company which runs till the end of this year (2008) Taylor Woodrow and George Wimpey merged in mid 2007 to form Taylor Wimpey, the UK's biggest housebuilder. The company is currently constructing the Barakese and Owabi Water treatment and expansion projects in Kumasi, a multi-storey car park for 800 cars in Ridge, a cocoa processing factory in Kumasi for ADM, and expanding its real estate operations in Accra.

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