Gilbarco Veeder-Root finalises purchase of AFS in South Africa

Gilbarco Veeder-Root finalises purchase of AFS in South Africa

BASILDON, UK – 28th May 2013 – Gilbarco Veeder-Root has finalised the agreement to acquire the majority shares of Automated Fuel Systems Group (Proprietary) Limited (AFS Group), based in Johannesburg, South Africa. As part of the Gilbarco Veeder-Root family, the company will be called Gilbarco AFS.

With more than 240 associates, AFS is a leading fuel management technology and services company providing wet stock management, automated refueling & maintenance services to retail & commercial customers, including mines & government agencies. AFS has been a long time distributor of Gilbarco Veeder-Root products. This acquisition provides an opportunity for both AFS and Gilbarco Veeder-Root to strengthen the product & services offered in the Southern Africa market.

“We are very excited about AFS joining the Gilbarco Veeder-Root family.” said Steve Moule, EMEA President. “Gilbarco AFS will strengthen our product and solution offering to our customers throughout the sub-Saharan Africa region.”

Gilbarco AFS will continue to operate from its headquarters in Johannesburg and regional offices throughout South Africa. Tony Warrener will continue to lead the new organisation as CEO and will retain responsibility for developing the business to meet the needs of its customers and the broader market. Calulo Petrochemicals’ will retain a minority shareholding. Mkhuseli Faku, Chairman of the Calulo Group, will continue as chairman of Gilbarco AFS. By virtue of the Calulo shareholding and a new empowerment trust Gilbarco AFS will retain its South African level three empowerment status while also providing for the educational and economic development needs of historically disadvantaged South Africans.

“This is a very exciting time for both AFS and Gilbarco Veeder-Root. Our existing and new customers will benefit greatly from the combination of these two leading companies.” said Tony Warrener, CEO of Gilbarco AFS.

About Gilbarco Veeder-Root

Gilbarco Veeder-Root is the leading global supplier of integrated fuel control, site management, and support services for petroleum marketers and commercial fueling enterprises. Products include dispensers, payment systems, tank gauges, submersible pumps, point of sale systems, and remote monitoring of site functionality. The Gilbarco Veeder-Root group of companies employs approximately 4,000 associates and is headquartered in Greensboro, NC, USA with manufacturing and research and development centers around the world.

About AFS

AFS, a South African based company with strong BBBEE credentials (Level 3 contributor) specializes in fuel management technologies and services with a strong presence in both the retail & commercial sectors. As a leading supplier to the South African market, AFS provides value added offerings combining products & solutions with maintenance & reporting services. Products & services include fleet fuel payment and automation solutions, vehicle identification technology and wet stock management solutions.

About Calulo

Calulo is a proudly African Investment house with meaningful and complementary interests in a range of sound business entities, primarily in the petroleum and chemicals and related services sectors. Calulo was established in 1999 and is actively involved in developing the regional petrochemical sector though its investment portfolio and new projects initiatives.

For additional information please contact:
John Tierney
Marketing Communications Manager EMEA
Gilbarco Veeder-Root
Phone: +44 7812 966 418