LONDON, Feb. 25, 2016 /PRNewswire/ -- The Manufacture and Wholesale of Metal Fasteners: This report focuses on the South African metal fasteners sector, a sub-sector of the ailing basic iron and steel industry. One of the biggest challenges facing the industry, worth an estimated R2.3bn in 2013, is the decline in the domestic mining sector which is the biggest end-user of metal fasteners. Coupled with weak economic growth and growing quantities of cheaper imports from China, local manufacturers are facing increasingly difficult times. This is reflected in the decrease in the number of people employed in the sector, from 1,260 in 2013 to 1,003 in November 2015, as well as the decline in membership of the South African Fasteners Manufacturers' Association (SAFMA).;
Government Support: The successful implementation of a number of government assistance and incentive programmes should help the metal fasteners manufacturing sector become more competitive. As state-owned enterprises such as Spoornet, Transnet and Eskom are significant buyers of metal fasteners, the implementation of the Preferential Procurement Policy Framework Act should ensure that locally manufactured goods are purchased in favour of cheaper imported items. Another positive programme that should result in increased sales is the Automotive Production and Development Programme (APDP) which aims to increase the total number of vehicles produced in South Africa to 1.2 million vehicles a year by 2020, although this target was recently revised downwards. The imposition of tariffs and anti-dumping duties on certain items should also eventually benefit the sector.;
Report Coverage: The report on the Manufacture and Wholesale of Metal Fasteners discusses the current conditions, the range of government interventions aimed at stimulating local manufacture and factors influencing the success of the sector. The report also profiles 40 companies including Avlock International which in partnership with CBC Fasteners, exports fastening systems to the United Kingdom, Canada, Paris, Italy and Australia, and SA Bolt Manufacturers (Pty) Ltd, which serves local and international markets with particular emphasis on the African continent.
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