The Hulamin CEO has acted with speed to turn the business around, but Nampak faces expensive distractions.
If investors were asked to pick two industrial shares with the most brittle prospects, more than a few punters would probably cite aluminium specialist Hulamin and packaging group Nampak.
Both are former industrial giants. Hulamin is major supplier to Nampak, so it could be argued that their fortunes are somewhat linked. Interesting, then, that both groups have been relentless in their value destruction for long-term shareholders. Both now hold market values that would be positioned on the outer limits of the small-cap universe on the JSE — an inconceivable fall from grace in 15 years...
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