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CFAO South Africa Acquires EIE Group to form CFAO Equipment South Africa
Johannesburg, 4th April 2022 – Leading material handling and warehousing equipment supplier, EIE Group in South Africa, will be known as CFAO Equipment, effective 1st April 2022. This follows the recent acquisition of the company from enX Group by CFAO South Africa, a leading provider of integrated mobility solutions across the automotive value chain.
Andrew Velleman, Chief Executive Officer of CFAO South Africa, says that the venture will be beneficial for both companies, extending CFAO South Africa’s market offerings to include the supply of material handling and warehouse equipment from reputable global manufacturers including Toyota Forklift.
“The acquisition of the company by CFAO South Africa is an exciting opportunity to leverage the organization’s extensive industry expertise. To be a part of CFAO South Africa will strengthen our position as the market leader in southern Africa” says Vuyokazi Bangazi, National Sales Manager, EIE Group.
CFAO South Africa, established in 2018, out of operations present in the country since 1920. From the sale of new and used vehicles and trucks, to supply-chain, logistics management, and assembly for the automotive industry, CFAO South Africa delivers a range of integrated mobility solutions across the automotive value chain contributing towards the support, development and growth of the automotive industry in South Africa, and across the rest of Africa. With a revenue of more than R34 Billion, nationwide operations with over 160 sites and more than 6,000 employees, CFAO South Africa is a key player in the South African mobility market.
CFAO Equipment in South Africa, part of a larger CFAO Equipment network of 34 Countries across Africa will add an additional pillar to the CFAO South Africa Group.
Until now CFAO South Africa has been operating through:
● CFAO Motors South Africa, one of the most comprehensive automotive dealer networks of multi-brand dealerships in the country,
● Toyota Tsusho Africa, a trading and supply chain management specialist company that delivers a range of value-adding solutions for the South African automotive manufacturing industry,
● Africa Mobility Solutions, responsible for the export and import of vehicles and parts in Africa, particularly Toyota, Hino & Suzuki.
“I am proud that we are integrating the network and expertise of such a reputable industrial equipment supplier into our business. We welcome to CFAO South Africa a workforce of more than 1,200 highly skilled members who share the same priority: to provide value to our customers and their operations. The evolution of the company to form CFAO Equipment will have no operational impact on our loyal customers, and we will continue to provide world-class products and services to the material handling and warehousing industry that we have become synonymous with. CFAO South Africa remains committed to transformation and is planning a new B-BBEE transaction for CFAO Equipment to retain the current transformation rating.”
“We look forward to this next step in the progression of our business and believe that this is only the beginning of a mutually rewarding relationship that will result in new levels of success,” concludes Velleman.
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