Sasol CEO Simon Baloyi said the South African company may spin off its international chemicals business as soon as 2028, depending on how quickly profit grows. Shares of the fuel and chemicals firm have gained about 47% this year — heading for its best performance since 2021 — as Baloyi, who became CEO last year, focuses on increasing output from the Secunda manufacturing hub in South Africa and turning around the international chemicals division ahead of a potential listing. That part of the company includes the $12.8-billion sprawling Lake Charles complex in Louisiana.
Chemicals group Omnia Holdings says it delivered a strong performance from its core mining and agriculture segments for the six months ended September 30, reflecting growth across diversified global markets. The group’s operating profit increased by 12% to R900-million from R802-million in the interim period of the prior financial year, while the margin increased to 8% from 7.3% despite the impact of extended supplier shutdowns.