Formex Industries has invested R70-million in three new metal presses that will expand its operations and output. The new presses, built by Yadon Press in China, will be used to manufacture stainless steel and mild steel components for the automotive industry.
The three metal presses will be housed in a new building on-site in Port Elizabeth. They also bring about more employment opportunities – a total of 82 new jobs will be filled by workers from Port Elizabeth and the Eastern Cape.
The metal presses will also present the opportunity of on-site training and skills development as workers become accustomed to the new technology. Formex will run training programmes to upskill employees and teach them about the latest technologies in the manufacturing industry.
Details about the three presses
Of the three new presses, one is a 1000-tonne press that has a larger shut height than a standard press. This machine is fully-integrated with the transfer system and is capable of ingesting a 1.3 metre-wide metal sheet. It is the largest transfer press in the Eastern Cape.
Formex has also purchased two 800-tonne progression presses. All three presses will be used for decades to come. As new software is developed, the presses can be simply updated to keep them on par with the latest technology.
Purpose of the presses
The new presses will be used to create intricate metal parts and components from flat sheets of mild and stainless steel. These components will be used for the South African automotive industry and the export market.
“The new presses will allow us to satisfy this wider range of demand,” says Formex Industries CEO Hennie Venter. “What we are seeing at the moment, especially with regard to how the national government is driving expansion within the automotive industry, is that there is certainly an increase in demand within South Africa,” he explains.
Yadon Press is predominantly owned by German technology firm, Schuler – the biggest company with the highest quality product in the metal press industry. The machines will be highly beneficial for Formex and will make the South African automotive industry more competitive and self-sufficient.
Formex Industries is a metal forming and assembly company that supplies a variety of complex products to the local automotive industry and export market. The company is based in the Nelson Mandela Bay metropole, South Africa’s foremost region for automotive manufacturing and export.
Formex specialises in producing components for the catalytic converter industry, as well as metal components and assemblies for the various vehicles. Formex aims to become one of the foremost suppliers for the South African automotive industry by 2035, aligning itself with the South African Automotive Masterplan (SAAM) which takes effect in 2020.
Formex is a Level 2 B-BBEE supplier with over 80% black ownership, of which more than 40% 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).