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RPM Automotive Group subsidiary Formula Offroad secures OEM supply agreement

Formula Offroad will supply bullbars, sports bars, nudge bars and towing products to Foton Motor Company Australia.

RPM Automotive Group Ltd - RPM Automotive Group subsidiary secures OEM supply agreement

RPM Automotive Group Ltd (ASX:RPM) subsidiary Formula Offroad (FOR) has executed an exclusive agreement for the supply of vehicle accessories to Foton Motor Company Australia.

This agreement relates to the supply of bullbars, sports bars, nudge bars and towing products for Foton’s range of light commercial trucks and utility vehicles.

Protection products

FOR manufactures an extensive range of front-end and rear-end protection products for vehicles in Australia focused on the automotive aftermarket.

This includes its recently released range of protection products for the top-selling Toyota Hiace.

Formula Offroad manufactures front-end protection products.

“Another strategic step”

RPM Automotive Group (RPMAG) executive director Lawrence Jaffe said, “The agreement with Foton Motors Australia is yet another strategic step in RPM Automotive Group’s organic growth.

“We are focused on the sectors in the Australian automotive market growing faster than the market as a whole and the truck or commercial space is where we are comfortable.

“The utility vehicle space is the fastest-growing sector within the automotive market.”

Entering OEM market

FOR’s Foton agreement marks the start of exclusive supply of front-end and rear-end protection products, as well as other accessories to the important Original Equipment Manufacturer (OEM) market.

Supplying the OEM marker is part of RPM Group’s planned growth strategy.

The Australian supply agreement is for the life of Foton’s vehicle range being supplied for the:

  • Foton Aumark 7.5 Tonne Truck;
  • Foton Aumark 12 Tonne Truck;
  • Foton Tunland Utility Vehicles; and
  • Foton Cargo Van.

FOR also makes rear-end protection products and towing products.

RPMAG is a leading player in the Australian Automotive Aftermarket comprising a number of businesses involved in importing, wholesaling and retailing of tyres, mechanical repairs, motorsport apparel and safety equipment, niche manufacturing, and a roadside assistance service for the transport industry.

RPMAG was founded in 2013 and owns brands such as RPM, Carline, Genie Headers, Air Anywhere, Formula Offroad and Fix-My-Truck.

Established manufacturer

Founded in 1996, Foton is an established Chinese automotive manufacturer of heavy-duty commercial vehicles including trucks, buses and agricultural equipment.

Foton invests heavily in research and development and has facilities in Tokyo, Stuttgart and Beijing.

Quick facts: RPM Automotive Group Ltd

Price: 0.14 AUD

Market: ASX
Market Cap: $12.62 m

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