Government take over of bussines in sa

TA152

Gold Supporter
#1
Did anyone see (or hear) of and announcement today (yesterday) that the South African government voted to take over certain businesses in that country? Seems something happened in 1652 they are upset about. I wonder if that includes Superformance?
 

Mark IV

Sponsoring Vendor
#2
Superformance is not in South Africa, the manufacturer, Hi Tech Automotive is. As I don't think they were building GT40s in 1652 I doubt there is any concern.
 

TA152

Gold Supporter
#3
Sorry Rick, but I think it was called Superformance in South Africa when I got my cars.
You are correct at present. I hope someone has a plan B. Over all, the white owned businesses could be taken over if you follow the thought process of the government. I think the last country they tried that with it ended up in a failure and general collapse of the country. Anyway my source was the WSJ this past week.
 

Mark IV

Sponsoring Vendor
#4
The factory has always been "Hi Tech Automotive" however Jim P. the owner also owned the Superformance brand until 2005 when he sold it to the current owner as he didn't want to do both manufacturing and distribution/sales.
 

40bud

New Member
#6
Grady, I believe that the EFF group has pressured the government to amend their constitution to allow taking of land without compensation. The concept now has to go for a review and decision by a constitutional review board as to what should happen. Maybe one of our SA members could fill us in on more details.
 
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