Formex is a leading manufacturer and supplier of automotive components, such as pressed or tubular parts and welded assemblies. We are based in the Nelson Mandela Bay Metropolitan area, which is a key zone in the country’s automotive industry thanks to its location near national seaports and railway lines.
We are wholly committed to the partnerships formed with some of the world’s top vehicle brands, especially those with manufacturing plants in South Africa, such as Volkswagen, Ford and Mercedes-Benz. These partnerships offer innovative growth opportunities for our multinational customers, who benefit through the Africa Infrastructure Trust Fund (AITF).
What is the AITF?
The AITF was set up by seven global car manufacturers – Toyota, VW, Ford, Mercedes-Benz, Nissan, BMW and Isuzu. It plays a key role in the implementation and fulfilment of the South African Automotive Masterplan (SAAM 2035). It is a transformation fund that enables stakeholders to support black-owned automotive suppliers, such as Formex.
It also opens the door for new partnerships for leading global suppliers, both in Africa and abroad. Partnering with associated businesses through the AITF delivers a win-win situation; massive shared benefits for multinational companies operating in South Africa, as well as a boost for the local supply chain and economy.
Benefits of the AITF
The AITF is a collaborative fund that empowers all stakeholders, not just component suppliers. It will certainly have a positive impact on socio-economic transformation in South Africa, while also bolstering output and the quality of automotive products. With Formex and the AITF, our partners will benefit from the following:
- Department of Trade, Industry and Competition (DTI) automotive industry grants.
- Incentives for asset-enabling activities.
Through the AITF quality management certification, we have aligned ourselves with international standards for quality and consistency. We offer a unique strategic proposition for global vehicle brands, combined with trusted international best practices, as well as broad-based black economic empowerment (B-BBEE) verification that delivers a competitive advantage to our partners.
To find out more about our involvement with the AITF, as well as our Vision with Action Plan, watch the video below:
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.
Formex is a supplier with 69% black ownership, of which 37% are black women. The company is owned by Deneb Investments Limited – a subsidiary of Hosken Consolidated Investments Limited (HCI) – one of South Africa’s biggest true B-BBEE companies listed on the Johannesburg Stock Exchange (JSE).
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