Boitumelong Holdings’ official acquisition of Otto Industries South Africa and Otto Waste Systems was recently cemented and celebrated at the Theatre on the Track in Kyalami, Gauteng last week, underscoring the group’s position as a leader in the South African waste industry.
The event marked the official takeover by the black-owned investment company of the previously internationally owned Otto Industries South Africa and Otto Waste Systems.
The acquisition is set to solidify the group’s already strong position in the local waste market, bringing the considerable expertise of Boitumelong and Otto Industries under one roof, resulting in the formation of what the roleplayers termed the first “entirely BEE company to focus on the manufacturing of waste management products and services in the country.”
“The acquisition of Otto Industries South Africa and Otto Waste Systems is a highly significant development for the group, and we look forward to providing our loyal customers with an improved service and even greater efficiencies than before,” said Boitumelong Holdings executive chairman, John Sithole.
Boitumelong Holdings was founded in 1988 by Sithole and focuses on the entire waste management value chain. While it started with a borrowed flat-bed truck and eight casual labourers, Boitumelong Holdings now has five companies in its stable, namely: Boitumelong Waste Services, Terberg bin lifters distributor Faranani, Lefatse Fleet Solutions, Galt Equipment, and now Otto Industries.
Otto Industries primarily manufactures waste containers and wheelie bins for provincial and municipal authorities, as well as industry and private contractors.
The group will be turning its attention to the rest of the continent, focusing first on the SADC countries and later the rest of sub-Saharan Africa. The continent represents a massive growth opportunity for Boitumelong, according to Sithole, because it can use its considerable expertise, experience and existing relationships within the local and international industries to further expand its reach.
“We are very positive about the growth prospects for the group going forward and we are expecting 2013 to be a strong year for Boitumelong and its partners,” concluded Sithole.