Chemicals and mining explosives producer AECI is preparing a hefty insurance claim in a bid to claw back more than R1 billion it lost in revenue due to Covid-19.
The company has operations in South Africa, the rest of the continent, the Americas, Europe, Asia and Australia. In addition to its chemicals and mining explosives, the group also has water and processing, plant and animal health, as well as food and beverage businesses.
Its biggest Covid-19-related knock came from its local operations, despite some of its businesses being classified as essential services providers. In an interview with Fin24 on Wednesday, AECI CEO Mark Dytor said the group had begun working on its claim, but would not divulge the details of the type of insurance policies the group will make its claims under.