After baptism of fire, empowered valves manufacturer on road to recovery
After fulfilling, in November 2019, all the conditions precedent to finally consummate the R165-million acquisition of valve manufacturer Dynamic Fluid Control (DFC) from Aveng the new black owners faced a true baptism of fire. CEO and co-shareholder Tumi Tsehlo, who previously headed the South African Mint for eight years, reports that the business immediately slumped to its worst four-month performance in history – and that was before Covid-19 had even made its deadly appearance in South Africa.