In the wake of its failure to meet its commitments for investments in SA as part of the multibillion-rand arms deal, German engineering conglomerate MAN Ferrostaal said yesterday that it had reorganised its operations in the country.

It had appointed Morley Nkosi, a director of Harmony Gold Mining and Investec Bank, as executive chairman with overall responsibility for its Johannesburg operations. MAN Ferrostaal had until the end of last month to explain its failure to meet its offset obligations to government.

With acknowledgements to Carli Lourens and the Business Day.