WEDNESDAY, 10.00AM:
WINE and spirits co-operative KWV on Tuesday formally converted itself to a company after 80 years as a co-operative.
The co-operative, which also acted as a state-appointed regulator of the industry, first made a high court application for the conversion last December 12, but this was opposed by Land Affairs Minister Derek Hanekom, who insisted that up to R80-million worth of KWV’s assets belonged to the state. The issue was settled out of court with the industry agreeing to set up a fund to promote training in the industry.
Speaking at the launch of the new company, KWV CEO Lourens Jonker described the conversion as the most significant historical event sice KWV was founded in 1918.
“We now aim to establish KWV as a world-class company which makes and supplies quality products of the vine, and associated services worldwide,” said Jonker.