Over the past four years, Formex Industries has donated over R3-million into corporate social investment (CSI) initiatives in Nelson Mandela Bay. Our CSI responsibilities lie in improving the lives and education of residents of the Eastern Cape. Formex is based in Port Elizabeth, so giving back to our community is an important aspect of the business.
Formex Industries is owned by Deneb Investments Limited, whose parent company is Hosken Consolidated Investments Limited (HCI). HCI is listed on the Johannesburg Stock Exchange (JSE) and runs the HCI Foundation. This charity organisation was set up to bring about change and make a sustainable impact in underdeveloped and underprivileged communities through interactive partnerships with other stakeholders.
The HCI Foundation specialises in campaigns to improve education, the environment, public transport, health and refugee support. The charity foundation offers bursaries for university students, youth empowerment programmes, advocacy for human rights as well as water, sanitation and environmental awareness initiatives.
Through the HCI Foundation, Formex has donated bursaries to deserving university students at Nelson Mandela University (formerly, Nelson Mandela Metropolitan University). The company also makes donations to local schools and community libraries. Formex has partnered with The Bookery to make these CSI initiatives possible, and celebrated International Nelson Mandela Day with The Bookery sorting out donated books at the Jarvis Gqamlana School library.
Our CSI is an important part of our company culture. Formex relies on the community in Port Elizabeth and surrounds, so giving back every year is a vital process that ensures continued success and the improvement of opportunities for our fellow South Africans. Formex Industries will continue to work alongside charity organisations to maximise the impact of our CSI initiatives in the coming years.
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 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).