It was time for the financial institutions to relax their tough stance on lending and start taking risks again, said Jeff Osborne, CEO of the Retail Motor Industry (RMI) at a media briefing in Pretoria.

 Speaking to journalists at the media launch of the inaugural HeavyWeight Expo 2010, which will be held in conjunction with the fifth annual Workshop and Aftermarket Technology Show (WATS) at the Tshwane Events Centre in Pretoria West on March 23 to 26, 2010, Osborne said the timing of the show, which is endorsed by the RMI, was perfect.

 “It will be an historic show.  It is a unique opportunity for the heavy vehicle industry to showcase their equipment, network with colleagues in the industry and sell their products. 

 “We are living in tough economic times,” said Osborne.  “But the timing of this show is perfect.  We are seeing light at the end of the tunnel, with heavy vehicle sales improving month on month, although they are still well down on last year’s figures.  It is time to look ahead and grasp the opportunities that exist.  There is unprecedented infrastructural growth ahead of the football World Cup in South Africa in 2010, which presents huge opportunities for sales of heavy vehicles and buses.”

 The banks had been exercising tight financial restrictions since the introduction of the National Credit Act and it had not been easy to get credit, Osborne added.  “It is time for the banks to start taking risks again.”

 The RMI was pleased to endorse the HeavyWeight Expo, he added.  “We have no doubt it will be a great success.  There is a need for it and, with the calibre of people who are organising the HeavyWeight Expo and the WATS Show, we are sure it will be a resounding success.”

 The HeavyWeight Expo will also incorporate industry related conferences and workshops and will be the gathering place for the major players in the industry, from bulk transport to passenger transport and materials handling, construction plant and equipment, agricultural applications and special vehicles. 

There will be categories for heavy commercial vehicles, buses, trailers, mobile cranes and lifting equipment, fork lifts, earthmoving plant and equipment, mining equipment, road construction and maintenance equipment, agricultural vehicles and special vehicles (like dumpers, tippers, mixers, tankers, emergency vehicles and security vehicles).

 For further information, visit www.heavyweight.co.za or contact Fanie Fourie or Sonja Terblanche, telephone 012 327 1487. 

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