OE Bearings, SA’s leading split bearing supplier, is stepping up the ladder of empowerment. The company has obtained their level three BEE rating, giving them 110% procurement recognition to its clients in terms of the BEE scorecard. Warwick Steinhobel, MD of OE Bearings, said the company also recently introduced a share scheme option for all staff members. “Empowering staff members, from the bottom right to the top, is one way, we believe, of ensuring maximum productivity. It also makes all staff members part of the company and allows them to share in the profits.” Currently, the bulk of the company’s earnings come from SA but there is “an increasing revenue stream” coming from other African countries, including Zimbabwe, Zambia, Botswana, Namibia, Mozambique, Swaziland and Lesotho With growth on their mind, the company is also considering a listing on the AltX stock exchange within the next five years. They also have Black empowerment Affiliate Company, Sekela Bearings, in which they have a 49% stake. Managing partner, Dan Mazibuko holds 51% of the equity. The affiliate company is a significant contributor to their revenues and is currently boasting clients such as Eskom, Assmang and the Bateman Group.
For more information contact: Tel: +27 (011) 493 4463 • Fax: + 27 (011) 493 4466 E-mail: enquiries@oebearings.co.za • Website: www.oebearings.co.za ◊
