https://www.engineeringnews.co.za
Africa|Automotive|Business|Construction|Manufacturing|Projects|Systems|Trucks|Manufacturing |Operations
Africa|Automotive|Business|Construction|Manufacturing|Projects|Systems|Trucks|Manufacturing |Operations
africa|automotive|business|construction|manufacturing|projects|systems|trucks|manufacturing-industry-term|operations

Automotive component makers to invest R2.4bn in South Africa

12th November 2019

By: Irma Venter

Creamer Media Senior Deputy Editor

     

Font size: - +

Eight auto component manufacturers will invest R2.4-billion in their South African operations as they either expand their footprint, or gear up for new business opportunities, says National Association of Automotive Component and Allied Manufacturers (Naacam) executive director Renai Moothilal.

Investments announced at last week’s SA Investment Conference include ZF Lemforder, Ebor Automotive Systems, MA Automotive, Atlantis Foundries (AF), Faurecia, VM Automotive, KLT and Motherson.

AF is a team of 800 employees manufacturing engine blocks for trucks. It exports 100% of its goods. AF has invested R82.3-million this year, and will invest a further R90-million in 2020.

Ebor Automotive Systems is investing R140-million in plastic injection mouldings, creating around 100 additional jobs.

VM Automotive is investing R426.23-million in a laser blanking line. Around 120 direct jobs will be created during the construction phase, and more than 50 jobs over the next seven years.
 
ZF Lemforder is investing R240-million in an East London axle plant.

Faurecia, a specialist in vehicle interiors, is spending R250.72-million on its Cape Town, Port Elizabeth and Pretoria operations.

“It is encouraging to see that these large-scale, high-impact investments are originating from multinational and domestically owned companies,” says Moothilal.

“These investments will significantly upgrade the capabilities of our sector’s supply base, while also potentially unlocking new localisation opportunities, in line with South Africa Auto Masterplan objectives.”

Moothilal adds that Naacam is keen to leverage the investments pledged in sectors allied to the automotive sector during the South African Investment Conference, held earlier this month.

The announcement at the conference by National Association of Automobile Manufacturers of South Africa of a R6-billion Automotive Industry Transformation Fund also presents “a significant opportunity to increase the participation of black-owned component manufacturers in the value-chain”.

“The potential economic multipliers here are significant in terms of employment and new business opportunities in a globally competitive auto destination,” says Moothilal.

“We look forward to engaging the fund to support strategic localisation and transformation projects.”

 

 

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

On-The-Air (17/05/2024)
On-The-Air (17/05/2024)
17th May 2024 By: Martin Creamer
Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.291 0.366s - 166pq - 4rq
Subscribe Now