NAACAM congratulates Manufacturing Member, Formex Industries (a supplier with 69% Black ownership, of which 37% are Black women) on their announcement of a R100 million investment in Struandale, Eastern Cape. This investment will allow Formex Industries to support expand its production capacity, following their award of another VWSA contract.
This project entails 21 new parts from 11 different tools. This expansion will see Formex Industries become a key supplier for 139 000 cars per year for six years. These components are currently all imported from Portugal.
NAACAM Commercial Director Shivani Singh was delighted with the announcement. “It is incredibly rewarding to see homegrown companies excel at this level. Securing OEM contracts can be extremely difficult for South African companies, but the Formex team has actively participated in several NAACAM interventions to drive the adoption of Industry 4.0 production methodologies, upskill shopfloor staff and improve their competitiveness. The NAACAM team congratulates Formex on ‘walking the talk’ to drive localisation and support SAAM 2035.”
The new plant will also see a localisation drive that will benefit other OEMs including Ford, Isuzu, Mercedes-Benz and Toyota, who will receive components from the plant directly or through other tier 1 suppliers.
Formex Industries is a metal forming and assembly company that supplies a variety of complex products to the local automotive industry and the export market. The company is based in the Nelson Mandela Bay metropole, South Africa’s foremost region for automotive manufacturing and export. Read the full article here: https://bit.ly/3AJje63
Company: Formex Industries
Comtact: Mihlali Sogoni, Commercial Executive
e-mail: [email protected]