New shareholding structure for Oasys Innovations

Following a two-year working partnership in a consortium arrangement with global event organiser, GL events, for the preparation and successful completion of overlays for the 2009 Confederations Cup and the 2010 FIFA World Cup™ South Africa, Oasys Innovations announced that it has sold 50.3% of the company to GL events.

Brian Kennedy, Oasys Chief ExecutiveM
Says Oasys Chief Executive Brian Kennedy: "Over the years we have developed our infrastructure with assets valued at more than R120 million to address opportunities in international markets. Although we are very much South African, we need to strengthen our participation in exhibitions and events in other markets in order to meet our long term business plans. In so doing, we will secure foreign trade for South Africa and provide opportunities for our employees to gain valuable working experience in other markets. Making a solo attempt has presented us with some barriers, and giving GL events access to our assets, including our know-how and our employees in Africa, will allow us to firmly re-position the company in global markets."

Kennedy says that Oasys customers will in future experience a new dimension of its total offering in innovation, resourcefulness and people talent. "By having an international interest in our local company we can now really boast with unprecedented value from a new international brand."

Visiting South Africa from France for the launch of the new company, GL events Managing Director Olivier Ferraton said: "As a company with a turnover of more than 700 million Euro and more than 4000 employees, we have a working relation and a vested interest with many companies around the world. Our experience working with the Oasys team on two international projects in South Africa proved to be seamless and we are excited about our joint opportunities going forward. This financial interest will be of mutual benefit to the two companies as we will be benchmarking on the Oasys expertise in Africa, which we believe will offer tremendous business opportunities for our industry. Similarly, GL events have a footprint in many other markets, and as a united management team we will identify new projects that will be of benefit for Oasys."

The scope of the combined resources and experience of the two companies is extensive. It ranges from planning and design through to project management, rentals and installation, to procurement and the integration of all the logistical elements. Professional staff includes designers, technicians, engineers, project managers and logistical experts forming integrated project teams to advise and guide customers through all events.

6 Sep 2010 00:54

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