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Kwane Capital, a wholly owned subsidiary of Ritam Holdings, has signed a distribution and localisation agreement with Italy’s CVS Ferrari S.p.A, an international supplier of port container handling equipment. It is estimated that the distribution and localisation agreement’s capex investment in Operation Phakisa will exceed R1 billion - with an initial market offtake of R3 billion in the first year – leading to significant job creation and skills investment in the ports and handling industry.

kwane1Colin Clegg, Regional Manager – CVS Ferrari and Mcebisi Mlonzi, Chairman and CEO of Ritam Holdings.

The agreement will see Kwane Capital distribute CVS Ferrari’s premier range of forklifts, empty container handlers and reach stackers. The company’s reach stackers can lift equipment exceeding 45 tons. Its forklift range has a lifting capacity of 48 tons. Kwane Capital will provide sales and after-market support to CVS Ferrari’s South African customer base.

In addition to the distribution, the agreement provides for the transfer of intellectual property and designs from Italy to South Africa. This is intended to enable significant product localisation, including the assembly of partially assembled or pre-fabricated parts as well as the local manufacture of specific equipment such as CVS Ferrari’s container straddle carrier. This will be done through the TFM Group, in which Kwane Capital holds a 63.7% stake. The TFM Group specialises in the manufacture, supply and support and import of specialist truck bodies.

kwane2A CVS Ferrari container straddle carrier which will be locally manufactured by Kwane Capital through the TFM Group.

“CVS Ferrari will, through our agreement with Kwane Capital, support the localisation of our product range in South Africa which also means we will be supplying specialist skills and training to support the programme. Also, with a dedicated distribution in South Africa we can significantly improve our after-sales support and services to our current and future customers,” says Colin Clegg, Regional Manager at CVS Ferrari.

“Our agreement with CVS Ferrari represents an important milestone in not only the ports and handling industry but our own business operations. Partnering with a global brand such as CVS Ferrari show tremendous faith in our ability to provide superior services to important customers such as Transnet as well our commitment to growing this crucial industry through job creation and skills investment. We look forward to mutually beneficial and fruitful relationship with CVS Ferrari,” says Mcebisi Mlonzi, Chairman and CEO of Ritam Holdings.

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