Copied and pasted. OE is Original Equipment.
While the OE business remains core to the group’s strategy, we are focussed on growing the aftermarket and non-automotive areas of the business to diversify our earnings base. Our non-automotive business sells products mostly related to telecommunications, utility, mining, retail and materials / products handling sectors.
The total vehicle parc in South Africa has continued to grow strongly as a result of the high new-vehicle sales experienced in 2006, 2007 and 2008. This has resulted in an increase in aftermarket sector sales of annuity products, most notably batteries, but also products such as brakes, filters, spark plugs, and heat-exchange-product spares.
The aftermarket performance is supported by our non-automotive market product penetration with lighting and battery products.
Exports consist mainly of aftermarket and OE product exported to Europe.
Agree with Orca,
Senior execs are compensated in part with a large chunk of stock options which they usually sell then give to CML to diversify ;-p
Do not try and bend the market. That's impossible. Instead... only try to realize the truth. Then you'll see, that it is not the market that bends, it is only yourself.