Dr HJ van der Bijl the founder of Iscor (today Mittal Steel South Africa) had a vision to build a steelworks and a modern industrial town.
The company “Vesco” was started in 1944 as a Section 21 Company “an association not for gain” and developed the whole of Vanderbijlpark as well as some of the surrounding black townships.
(1) OUT OF THE COMMUNITY
Vesco will strive to create/sustain
Community facilities/services
and/or
Job opportunities
and/or
A financial income / surplus
by supplying products/services and facilities to a target market by using healthy business principles
(2) FOR THE COMMUNITY
Vesco will invest financial income/surpluses back in the community
Vesco is a sustainable* community company. In doing so, we strive to add value to our community.
*BEE: = Black Economic Empowerment
*The term sustainability include; Economic, social and environmental
Today Vesco is a fully fledge broad based BEE* company with various community driven activities
As Vesco is a Section 21 Company, ownership rest in the community it serves.
Mittal Steel South Africa has the sole right to appoint the board of Vesco by virtue of Vesco’s Articles of Association
