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Pasdec Automotive Technologies Acquires Interest in CRH Africa

The purchase of 30.87% equity in CRH Africa is a key step in Pasdec’s diversification and growth strategy in the local and international automotive component markets

Brits, November  2011

 

Left to Right: Harald Keichel (MD CRH Africa), Mr. Goh (Director Pasdec), Kevin Pather (CEO Pasdec), Robert Houston (Chairman CRH Africa) Ltd., Michael Goethner (Financial Manager, CRH Africa)

The Board of Directors of Pasdec Resources (Pty) Ltd (Pasdec) is pleased to announce that it has acquired 30.87% equity interest in CRH Africa Automotive (Pty) Ltd (CRH Africa).

Pasdec Automotive Technologies, which is a member of Malaysian owned Pasdec Holdings, is a leading manufacturer and supplier of electrical wiring harness to OEM vehicle manufacturers in South Africa. Among its major customers are Nissan South Africa, Renault South Africa and Mercedes-Benz South Africa.

CRH Africa is primarily engaged in the manufacturing of seat components and catalytic converters for the automotive industry and operates principally in South Africa. CRH Africa has two operating plants in South Africa, one in Port Elizabeth and the other in Johannesburg.

The majority shareholder of CRH Africa is US-based company Johnson Controls, a global leader in automotive seating, interiors and electronics.

According to Kevin Pather, Pasdec’s CEO, this acquisition forms a key part of the company’s growth and diversification strategy.

“We consider it to be a great privilege,” says Pather, “to be formally associated with CRH Africa, which has a successful track record spanning more than 45 years. Together with Pasdec’s 42 years’ experience in the automotive components industry, this represents a very strong partnership.”

About Jonnson Controls

Johonson Controls is a global diversified technology and industrial leader serving customers in over 150 operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful.

Jonnson Controls Automotive Experience

Jonnson Controls is a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics. We support all major automakers in the differentiation of their vehicles through our products, technologies and advanced manufacturing capabilities. With 200 locations worldwide, we are where our customers need us to be. Consumers have enjoyed the comfort and style of our products, from single components to complete interiors. With our global capability we supply more than 30million cars per year.