Exhibitions and events infrastructure supplier, Oasys Innovations, has made an announcement which will further improve the company's compliance in terms of Black Economic Empowerment.
The company was founded in 1977 and was headed by Raymond Burke, who recently sold his shares to Brian Kennedy and Herman Mashaba, who both already held an interest in the company. Says Burke: “We started as a basic exhibitions infrastructure supplier for exhibition organisers. As the economy grew, so did the importance of marketing, and companies invested aggressively in communications programmes, including exhibitions.”
Chief Executive Officer, Brian Kennedy, says that Burke will continue to advance the company's interests both locally and overseas. “Oasys Innovations has rapidly grown into a company with more than 300 employees in five Business Units in the areas of exhibitions infrastructure and show stands, events infrastructure, audio visual systems, furniture, carpets and marquee hiring as well as electrical systems and services.”
Kennedy is upbeat about the new empowerment development. “This year we expect a growth of 20%, and with our mix of products and services, as well as the partnership with Herman Mashaba, we are set to grow in leaps and bounds.”
Mashaba, who became known for his success with the hair and skin care company “Black Like Me”, will own 25% of the company. “Jointly we will pursue new opportunities in existing and new markets, especially in Africa, Europe and Asia where we already have offices and partnerships. The mix of the Oasys business components allows for a degree of experiential marketing, although our immediate priority is the local market with exciting fixtures such as the ANC congress and the Nedbank Golf Challenge. Of course, we are also well equipped for any 2010 challenges relevant to our competence.”
Kennedy concludes: "Although Herman and I now own the company, there is no reason why other potential partners should be excluded from our journey into the future. For now we have made a bold statement in our industry, and I am sure that this move should serve as an indicator for other companies in our industry to follow suit.”