NATURE OF BUSINESS
Since its inception in late 2014, Ebor has become one of the leading Tier 1 suppliers of complex injection mouldings and assemblies to the automotive sector.
BRIEF DESCRIPTION OF THE TRANSACTION
August 2014 – High Street Capital lead a consortium and with senior members of management acquired the complete plant and assets of Visteon SA. Visteon SA had been a market leader in the SA specialised injection moulding sector since 2001. After acquiring the plant and assets, and establishing a new company, Ebor Automotive Systems, the key staff from Visteon SA were rehired and a lease secured over the same manufacturing premises in Port Elizabeth.
PROGRESS SINCE HIGHSTREET CAPITAL INVOLVEMENT
January – May 2015 – EBOR secures significant production contracts for Volkswagen South Africa, Faurecia & various other OEMs and Tier 1 suppliers
December 2015 – EBOR secures a basket of parts for the new Polo 270 from Volkswagen South Africa. The value of the seven year contract is just under R1billion.
March 2016 – EBOR completes a 600 square meter extension to its plant in Perseverance to house two new 1700t, 1100t and 3 other presses. Phase 1 production commenced in April 2016 and the second phase began in the middle of 2017. By the end of 2017, EBOR employs 120 staff.
2019 – 2020 – EBOR secures > R1bil from Mercedes Benz South Africa and its Tier 1 suppliers. With the support of funding from the Industrial Development Corporation, a new 7500 m2 facility is completed in East London to supply the MBSA C-Class requirements. Staff compliment exceeds 250. Current plans include a new 10 000m2 facility in Uitenhage.