VENTURES: Ampaglass Announce Management Buyout
Recent Gauteng Business News
Ampaglas has announced its recent management buyout and restructing, a move that sees the company relaunching under the banner of Ampaglas Plastics Group, incorporating Ampa Plastics, Modek and Vesta. Spearheaded by a far younger, more dynamic management team, the newly formed group now includes Investec as a shareholder in addition to a significant BEE partner.
The newly formed group is geared for expansion into new markets and plans on diversifying the business to allow for additional growth. “The new investments position us to take advantage of growth opportunities, many of which have already been identified,” explained Barry du Toit, CEO of Ampaglas Plastics Group.
Already the leading extruder of rigid plastic sheeting in South Africa, Ampaglas has identified technology as a key to future growth and plan on becoming a manufacturer of world class products, undisputed in both market share and quality throughout Africa. “As a new, younger, driven management team, we are embracing technology and the benefits that it offers to give us the edge and ensure our growth into new segments,” added du Toit.
Formed in 1973, the group has a solid reputation for quality, reliability and excellence; extruding various types of polymers for use in the refrigeration, automotive, building, security, packaging, signage, advertising, glazing, engineering, and construction, industries.
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