The Manufacturing Circle, which comprises a number of SA's leading medium to large manufacturing companies from a wide range of industries, said it believed that the judgment was a matter of fundamental importance to the future economic strength of the country.
Though Friday's ruling from Appeals Court Judge President Dennis Davis upheld the Competition Tribunal's approval, he accepted that there were legitimate concerns about the effect of the deal on small producers and employment.
The competition appeals court ruled that the study must be commissioned by three experts representing the merging parties, trade union Saccawu and the three government ministers from the departments of Economic Development, Trade and Industry, and Agriculture, Forestry and Fisheries. The experts have three months from the date of the ruling to produce the report.
"The reindustrialisation of SA is vital in the creation of jobs and it provides an important multiplier to the economy, which will benefit all sectors of the country," chairman of the Manufacturing Circle Stewart Jennings said.
The body has offered its full support and assistance in order to review debate and help formulate considerations for the study which it says will ultimately have a positive impact on SA's manufacturing base, and the entire economy.
"There is a global emerging trend of consciousness with many government's implementing strategies to revitalise their respective manufacturing bases as it has become clear that support for manufacturing is an essential mechanism to sustain growth, job creation and economic advancement.
"This is also clearly evident in the government's release of the preferential procurement regulations that coincides with the local procurement accord, which endorses the stated commitment to significantly expand the value of goods and services it procures from South African companies, as well as the establishment of standards for measurement and verification of local content," Jennings commented.
The Manufacturing Circle said it was also encouraged by the inclusion in both the president's state of the nation address, as well as the recent budget, that manufacturing and input costs were given prominent mention and a significant allocation was made in the budget to assist this strategic ailing sector.
The tribunal first approved the deal late last May, subject to four caveats: the companies honouring existing labour contracts, the reemployment of 503 retrenched employees that were let go in 2010 from a Game store in Nelspruit, the setting up of a R100 million fund to assist local suppliers and manufacturers, and no jobs cuts for two years.
However, three government departments and Saccawu contested the decision.
The appeal was heard in October.
US based Wal-Mart is the largest retailer in the world with over two million employees.
Consumer goods distributor Massmart is the owner of Game, Dion Wired, Makro and others.
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