It brings me great pleasure to announce the Naum Group of Companies. A journey that started back in 2012 as the world recovered from the recent recession. Through the parrels of financial strife and a weakening value in South Africa's engineering sector, a new company set the course for what we have today. Khethabakhe was established as a small machine shop in Jet Park, Johannesburg. Through pragmatism, incredible value and a willingness to strive in a competitive market. Today, our flagship company services many companies in all business sectors.
Expansion into the market
We have expanded our offering by expanding into supporting markets to solidify our further presence and bring additional value to our customers. Starting with Gauteng Steel, our profiling and steel supply company. Gauteng Steel has become a strong partner to ensure that our customers have enhanced timelines in manufacturing at Khethabake by ensuring a steady supply of steel that meets the correct specifications along with a simplified experience for the customer. This enables us to be a single point of contact adding value to the customer.
Yates National Lubricants was a similar parallel endeavour. Established in 1997, Yates National Lubricants provides the best quality german lubricants with existing relationships with some of the top manufacturers such as Fuchs and Shell. The business was acquired in 2017 to continue the legacy of Mr Yates and add additional value to our customers who required the same stellar service and great pricing of quality lubricants. Through this partnership, we can ensure the best quality as our machines can perform at their best while assisting our customers in obtaining the best quality lubricants for their applications.
Concept Abrasives is one of our latest additions to the group. Concept Abrasives have been a faithful supplier to our business since the start. We have made a considerable investment by purchasing half of the business to ensure that Concept Abrasives has the right support while still maintaining its sovereignty. Our intention is to bring further value to our customers who require industrial supplies while creating a strong partnership with members of the supply chain we rely on.
Lastly, Checho - our project management and delivery business was established in 2020 as a new endeavour in the construction industry. Checho has successfully delivered low-cost housing projects, steel construction and various medium-term projects.