Press releases

MDM Engineering poised for major step in company’s progression

4 February 2008

Johannesburg, 4 February 2008: MDM Engineering Group Limited today announced two major steps in the company’s progression towards becoming a significant listed entity in the global construction and engineering sector.

First, the company has announced that work has commenced in respect of the company’s planned listing on the London Stock Exchange’s Alternative Investment Market (AIM) in the second quarter of 2008. Following in the steps of fellow construction and engineering peer Bateman Engineering, MDM Engineering has enjoyed a great deal of interest from the market and anticipates raising +/- USD$10 million at listing.

Second, the company has announced the resignation of founder George Bennett as CEO and the appointment of Grant Lowman, currently Deputy CEO, in his stead, effective February 2008. George Bennett will remain on board as an executive director and maintain significant involvement in the company.

Says George Bennett, “My work in establishing MDM Engineering as a serious player in this sector has been very successful; the company is in a financially sound position and the date for listing has been set. From start-up just 22 months ago, MDM Engineering is currently undertaking a number of world-class projects across Africa, has an order book in excess of US$400 million and feasibility studies underway indicating a potential project pipeline of US$1 billion. Grant was hand-picked to take this company forward and to grow it into a business that can compete on an international scale.“

The company recently announced the appointment of industry veteran Bill Nairn as the independent executive chairman.

Brief CV: Grant Lowman

Grant Lowman graduated from the University of the Witwatersrand with a BSc in Chemical Engineering in 1988 and a BCom through Unisa in 1991. He began his career at Highveld Steel &

Vanadium in 1990 in the projects division, and was assistant production manager at Transalloys when he left to join the Industrial Development Corporation. He then joined FNB Corporate Bank in 1996 in the project finance division and thereafter headed up RMB’s project finance resources unit, leaving to join Bateman in 2004 where he sat on the Group Exco, with responsibility for the global project finance unit. Grant joined MDM Engineering in January 2007.


George Bennett
Chief Executive Officer
Tel: +27 11 886 7981

Note to editors

MDM Engineering International Limited (MDM Engineering) is a BVI registered, metallurgical engineering company which was established in February 2006. MDM Engineering undertakes mineral resources projects of varying size and concentrates on the gold, base metals, industrial metals and diamond sectors. The company offers a range of services from project evaluation and the design and construction of plants to project management. MDM Engineering has a team with 20 years of operational experience gained across a range of minerals that has completed some 100 feasibility studies and constructed some 50 metallurgical plants worldwide, with a focus on the African continent.

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