NAACAM member company Formex Industries is gearing up for a localisation drive which forms part of the SAAM2035 objectives. The company recently made an R102-million investment pledge at this year’s SA Investment Conference. This amount is over and above the R200-million initial investment made by Formex over the past four years, showing their commitment to South Africa’s automotive industry.
Formex’s investments include purchasing one of the largest auto-transfer presses in the country to boost capacity. The purchase of this facility will allow Formex to manufacture more than 20 new automotive components previously made in Portugal.
Follow this link https://lnkd.in/gKWgC8Nh to read more about Formex’s investment.
Follow this link https://lnkd.in/gWr_K9sV for more information about the Formex automotive components and products.