* Firm will sell its manufacturing arm
* To exit some construction businesses
* Competitors also have to adjust strategies
* S. African construction hit by weak public finances
* Continues to assess expressions of interest for I&C unit (Adds strategy details, more quotes)
By Nqobile Dludla
JOHANNESBURG, Nov 7 (Reuters) – South African builder Group Five said it will sell its manufacturing arm and exit some construction businesses as part of a further restructuring to address a slump in its home market.
South Africas construction industry has slowed sharply since the 2010 FIFA World Cup, with few major infrastructure projects awarded and those that have been approved risk being curtailed by fiscal strains.
As a result, construction firms …
Read the full article at: https://www.reuters.com/article/group-five-restructuring/update-2-group-five-widens-restructuring-amid-south-african-construction-downturn-idUSL5N1ND2FG