History PUTCO

1 history

1.1 1945 - 1950
1.2 1950 - 1960
1.3 1960 - 1970
1.4 1970 - 1980
1.5 1980 - 1990
1.6 1990 - 2000
1.7 2000 - 2010

history

during apartheid era, putco main blacks bus transport company , seen symbol of oppression. result, company targeted in attacks , boycott actions. biggest challenges high cost of diesel fuel, maintenance , spares. putco has been part of south african history. company traded on jse limited on 6 decades, survived penny fare increase of 1954, 1976 riots , upheavals of 1980s.

carleo enterprises bought company leyland motors corporation in 1971. had sold entire shareholding in 1962. albino carleo went on lead putco managing director, later serving chairman , ceo more 3 decades. retired in september 2004. franco pisapia, nephew of albino carleo, took on managing director.

the company has own bus body building facility in brits, outside pretoria, called dubigeon body & coach . can overhaul engines , gearboxes. putco assisted department of public transport roads , works establishment of contracting model gauteng women in transport (gwit). putco has subcontracted 5 buses gwit, giving total of 10 vehicles. arrangement ensures women lease buses , routes company.

1945 - 1950

putco founded jack bird barregar in 1945 , listed on johannesburg stock exchange issued share capital of r810,000. @ end of decade putco placed under judicial management.

1950 - 1960

three years later capital restructured , company taken out of judicial management. putco pioneers began giving aptitude tests potential drivers. year later introduced advertising on sides of buses. on 7 january 1957 workers johannesburg , pretoria townships began boycott of putco, due company increasing fares 25% (one penny @ time) in order them out of continuous financial crisis. spontaneous act marked start of three-month period during estimated 70,000 workers joined in action, became known 1957 alexandra bus boycott. putco forced rescind increase in bus fare.

at end of decade putco expanded service durban. prior municipal bus services available.

1960 - 1970

just after takeover leyland motors, putco began acquisition of other bus services. these included edenvale bus service carleo enterprises. 6 years later carleo enterprises sold remaining services putco. these included rand bus lines , evaton passenger services.

1970 - 1980

in 1971 carleo enterprises bought 51,6% shareholding of public utility transport corporation leyland motors. carleo enterprises formally changed name public utility transport corporation putco limited. in june 1972, strike 300 putco drivers won 33.3% wage increase. formed transport , allied workers union.

a year later albino carleo took on managing director of putco. @ end of decade putco acquired company, african bus service united transport in acrimonious corporate battle.

on 5 september 1984 putco bus torched aid of petrol bomb after putco employees did not participate in national anti-apartheid strike. 2 of attackers granted amnesty truth , reconciliation commission in 2001 actions on day, third person involved deceased.

1980 - 1990

albino , board of directors started putco foundation in 1982 assist in social uplifting of communities company serves. putco’s fleet peaked @ 3,440 vehicles in mid-decade. buses travel 156 million kilometres year , carry 353 million passengers.

mrs. marina maponya became first black person appointed director of company in 1986.

1990 - 2000

a part of putco fleet.

the effect of taxi industry had disastrous impact on putco; bus fleet reduced 2,500, carrying 120 million passengers year. 3 years later passenger numbers had dropped 82 million , bus fleet reduced 2,280. surprisingly profits increased r17,6 million. despite putco losing customers, withdrew durban after suffering considerable losses in region.

putco started first joint venture operation black partner in 1998, valuader (pty) limited, in vaal triangle. first of number of such joint ventures , lekoa transport trust established. year later ipelegeng transport trust established. in october 1990 7 people died , 27 injured when putco bus attacked @ kwamashu, north of durban. carried out members of right wing movements in south africa.

2000 - 2010

putco managing director, franco pisapia.

in 2002 nathi khena became first black managing director of company , asibemunye transport trust established. in 2004 albino carleo , number of board retired after serving many years. new board structured franco pisapia, nephew of albino carleo, becoming managing director.

just year later putco de-listed jse limited after sixty years enable take on empowerment partners. putco achieved important milestone in history of transport industry completing bbbee scheme, empowering more 3,300 employees in 2006.