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BHBW

Full company profile

uuid002pl4d

Namestring
BHBW
Legal namestring
BHBW SA (Pty) Ltd
Company typeenum
Private
Founded yearint
2017
Descriptiontext

BHBW SA (Pty) Ltd is a South African private company headquartered in Kempton Park that distributes and services capital equipment across three verticals: materials handling, industrial cleaning, and agriculture. The company holds exclusive or authorized distribution rights for Hyster and Yale forklifts and warehouse handling equipment (ranging from pallet jacks to reach stackers up to 52 tons), Hako industrial scrubbers and sweepers, and a multi-brand agricultural portfolio including Fendt, Massey Ferguson, Geringhoff, Crary, and Bednar, supplemented by the Temo Parts aftermarket brand. BHBW also sells used equipment in both materials handling and agriculture and operates a 24/7 technical support service with a stated four-hour average countrywide response time, supported by a countrywide branch network and a dedicated agriculture dealer network with branches in Hoopstad and Bothaville.

The business operates an enterprise field-sales go-to-market, distributing capital equipment on a one-time sale basis while generating recurring revenue from parts, accessories, and 24/7 repair and maintenance services. Customer segments are horizontal, spanning manufacturing, warehousing, distribution, retail, shipping and port operations, industrial and commercial facilities, and farmers. Marketing is centered on the company website, with supporting social media, video, news, and downloadable resources including a B-BBEE Level 1 certificate. The company is a B-BBEE Level 1 contributor, holds a POPI/PAIA manual, and operates as a privately held South African entity with 251-500 employees and a founding year of 2017.

Revenue is generated across three streams: equipment sales, parts and accessories, and repair and maintenance services. No proprietary technology platform, software product, or AI/ML capability is disclosed. The company's competitive position rests on its exclusive OEM distribution agreements, countrywide service footprint, B-BBEE Level 1 status, and the recurring aftermarket revenue tied to its installed base of premium equipment.

Short descriptiontext

BHBW is a South African distributor and service provider of capital equipment across materials handling (Hyster, Yale), industrial cleaning (Hako), and agriculture (Fendt, Massey Ferguson, and others), serving manufacturers, warehouses, farmers, and port operators with new and used equipment, parts, and 24/7 countrywide maintenance.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersBoksburg, South Africa
HQ citystring
Boksburg
HQ countrystring
South Africa
HQ regionstring
Africa
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
materials handling equipment, industrial cleaning equipment, agricultural machinery, forklift distribution, equipment maintenance services
Industry1 code
1Material Handling & Loader Attachments (Front Loaders, Telehandlers, Bale Handlers, Forks)
CodeAFAAAAACPrimaryYes
NAICS code3 codes
  • Farm and Garden Machinery and Equipment Merchant Wholesalers42382
  • Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers423810
  • Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers42381
SIC code4 codes
  • Farm Machinery & Equipment3523
  • Industrial Trucks, Tractors, Trailors & Stackers3537
  • Wholesale-Industrial Machinery & Equipment5084
  • Wholesale-Machinery, Equipment & Supplies5080
Product category
Industrial Equipment Distribution
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model3 records
1Equipment Sales
TypeOne Time License
Description

Sale of new and used materials handling equipment (forklifts, lift trucks, warehouse handling equipment from pallet jacks to reach stackers lifting up to 52 tons), industrial cleaning equipment (scrubbers, sweepers), and agricultural machinery for soil cultivation, planting, harvesting, haymaking.

bhbw.co.za
2Parts & Accessories
TypeOne Time License
Description

Sale of replacement parts for materials handling equipment, industrial cleaning machines, and agricultural equipment and accessories.

bhbw.co.za
3Repair & Maintenance Services
TypeProfessional Services
Description

24/7 repair and maintenance services for all equipment types with countrywide coverage and 4-hour average response time. Includes technical support and emergency call-out services.

bhbw.co.za
Marketing channels5 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

BHBW distributes new and used materials handling equipment (Hyster and Yale forklifts, lift trucks, warehouse equipment), industrial cleaning machines (Hako scrubbers and sweepers), and agricultural machinery (Fendt and Massey Ferguson tractors, Geringhoff headers, Crary and Bednar implements) from world-leading OEMs across South Africa. It supplements equipment sales with a 24/7 countrywide repair and maintenance service, parts and accessories supply, and a used-equipment trading offering. Customers are primarily commercial and industrial buyers across manufacturing, warehousing, mining, retail, commercial cleaning, and large-scale farming.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 value
  • 24/7 countrywide technical support with 4-hour average response time
Product overview1 text field

BHBW is a multi-brand equipment distribution and service company operating across three divisions: Materials Handling, Industrial Cleaning, and Agriculture. The Materials Handling division offers Hyster and Yale forklifts and warehouse equipment ranging from pallet jacks to 52-ton reach stackers. The Industrial Cleaning division provides Hako industrial scrubbers and sweepers. The Agriculture division distributes Fendt, Massey Ferguson, Geringhoff, Crary, and Bednar farm equipment. BHBW also sells used equipment and provides 24/7 repair and maintenance services with parts support across all product lines. The company operates through a dealer network and branches in Hoopstad and Bothaville for agriculture, with countrywide technical support.

Product and service1 record
1Hyster Forklifts and Lift Trucks
Scale indicator3 records

Each record includes

Type, Value, Description, Source

Partnership9 partners
Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Exclusive distributor of Hyster lift trucks and materials handling equipment in South Africa. Hyster is a world-leading brand in forklifts and warehouse handling equipment, with models ranging from pallet jacks to reach stackers lifting up to 52 tons.

Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Exclusive distributor of Yale lift trucks and materials handling equipment in South Africa. Yale is a globally recognized brand in forklifts and warehouse equipment.

Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Exclusive distributor of Hako industrial cleaning equipment including scrubbers and sweepers in South Africa. Hako products are described as high-performance, easy-to-use, maneuverable, and maintenance-friendly.

Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Authorized distributor of Fendt agricultural machinery in South Africa. Fendt is a premium brand specializing in high-performance farm equipment.

Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Authorized distributor of Massey Ferguson agricultural equipment in South Africa. Massey Ferguson is a globally recognized agricultural machinery brand.

Strategic tierMinorTypeChannel Partner/ Reseller/ Distributor
Description

Authorized distributor of Geringhoff farm equipment in South Africa, specializing in harvesting equipment.

Strategic tierMinorTypeChannel Partner/ Reseller/ Distributor
Description

Authorized distributor of Crary agricultural equipment in South Africa, focusing on specialized farming solutions.

Strategic tierMinorTypeChannel Partner/ Reseller/ Distributor
Description

Authorized distributor of Bednar agriculture equipment in South Africa, specializing in soil cultivation and planting equipment.

Strategic tierMinorTypeChannel Partner/ Reseller/ Distributor
Description

Supplier of agricultural parts and accessories, branded as Temo Parts for the South African market.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Pan-African distributor of automotive, industrial, and agricultural equipment with Toyota, Caterpillar, and other OEM authorizations across Sub-Saharan Africa. Comparable as a multi-brand equipment distributor serving African markets with full sales-parts-service coverage.

TypeBroad incumbent
Description

Global forklift and intralogistics OEM (Linde, STILL, Baoli brands) competing with Hyster-Yale in materials handling. Relevant as a competing OEM whose dealer network strategy and South African partner choices shape BHBW's competitive landscape.

TypeDirect peer
Description

South African group distributing John Deere agricultural equipment, materials handling, and forestry equipment through a countrywide dealer network. Closely comparable business model — authorized multi-brand equipment distributor with branches and aftermarket service in South Africa.

TypeBroad incumbent
Description

Global agricultural equipment manufacturer that owns the Fendt and Massey Ferguson brands distributed by BHBW in South Africa. Comparable as the OEM partner whose product allocation, dealer strategy, and direct-sales pilots materially shape BHBW's agricultural division economics.

TypeBroad incumbent
Description

Global manufacturer of agricultural and construction equipment (Case IH, New Holland, CASE Construction). Comparable as an agricultural/construction OEM whose dealer network policies in Africa affect competitive dynamics for BHBW's farm machinery vertical.

TypeBroad incumbent
Description

Parent company of Hyster and Yale, the two flagship materials handling brands that BHBW exclusively distributes in South Africa. Relevant as the OEM whose brand and product roadmap directly determines BHBW's materials handling offering and authorization risk.

TypeBroad incumbent
Description

Global materials handling OEM and intralogistics provider with a direct sales and service network across Africa. Comparable as a competing brand whose direct-vs-distributor strategy affects the structure of the South African materials handling market.

TypeDirect peer
Description

South Africa-based industrial distributor that historically distributed Caterpillar earthmoving equipment and provides equipment, aftermarket, and rental services across Southern Africa. Directly comparable as a countrywide multi-line industrial/construction equipment distributor with similar branch-and-dealer model.

TypeBroad incumbent
Description

Large South African conglomerate with logistics, automotive, and industrial equipment distribution operations. Comparable as a diversified industrial/distribution player with presence across multiple equipment verticals in Southern Africa, though much broader in scope than BHBW.

TypeRegional player
Description

South African distributor specializing in agricultural milling, feed processing, and handling equipment with countrywide support. Comparable as a regional equipment distributor and aftermarket service provider focused on agricultural and processing customers.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment5 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
Compliance2 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

BHBW

Industrial Equipment Distributionbhbwholdings.co.za

BHBW is a South African distributor and service provider of capital equipment across materials handling (Hyster, Yale), industrial cleaning (Hako), and agriculture (Fendt, Massey Ferguson, and others), serving manufacturers, warehouses, farmers, and port operators with new and used equipment, parts, and 24/7 countrywide maintenance.

What BHBW does

BHBW SA (Pty) Ltd is a South African private company headquartered in Kempton Park that distributes and services capital equipment across three verticals: materials handling, industrial cleaning, and agriculture. The company holds exclusive or authorized distribution rights for Hyster and Yale forklifts and warehouse handling equipment (ranging from pallet jacks to reach stackers up to 52 tons), Hako industrial scrubbers and sweepers, and a multi-brand agricultural portfolio including Fendt, Massey Ferguson, Geringhoff, Crary, and Bednar, supplemented by the Temo Parts aftermarket brand. BHBW also sells used equipment in both materials handling and agriculture and operates a 24/7 technical support service with a stated four-hour average countrywide response time, supported by a countrywide branch network and a dedicated agriculture dealer network with branches in Hoopstad and Bothaville.

The business operates an enterprise field-sales go-to-market, distributing capital equipment on a one-time sale basis while generating recurring revenue from parts, accessories, and 24/7 repair and maintenance services. Customer segments are horizontal, spanning manufacturing, warehousing, distribution, retail, shipping and port operations, industrial and commercial facilities, and farmers. Marketing is centered on the company website, with supporting social media, video, news, and downloadable resources including a B-BBEE Level 1 certificate. The company is a B-BBEE Level 1 contributor, holds a POPI/PAIA manual, and operates as a privately held South African entity with 251-500 employees and a founding year of 2017.

Revenue is generated across three streams: equipment sales, parts and accessories, and repair and maintenance services. No proprietary technology platform, software product, or AI/ML capability is disclosed. The company's competitive position rests on its exclusive OEM distribution agreements, countrywide service footprint, B-BBEE Level 1 status, and the recurring aftermarket revenue tied to its installed base of premium equipment.

BHBW firmographics

Firmographics
Name
BHBW
Legal name
BHBW SA (Pty) Ltd
Website
https://bhbwholdings.co.za
Company type
Private
Founded year
2017
Operating status
Operating
Headcount range
251–500 employees
Short description
BHBW is a South African distributor and service provider of capital equipment across materials handling (Hyster, Yale), industrial cleaning (Hako), and agriculture (Fendt, Massey Ferguson, and others), serving manufacturers, warehouses, farmers, and port operators with new and used equipment, parts, and 24/7 countrywide maintenance.
Ownership category
akta.pro rank

BHBW industry classification

Industry
Product category
Industrial Equipment Distribution
NAICS
Farm and Garden Machinery and Equipment Merchant Wholesalers (42382), Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers (423810), Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers (42381)
SIC
Farm Machinery & Equipment (3523), Industrial Trucks, Tractors, Trailors & Stackers (3537), Wholesale-Industrial Machinery & Equipment (5084), Wholesale-Machinery, Equipment & Supplies (5080)
akta.pro primary industry
Material Handling & Loader Attachments (Front Loaders, Telehandlers, Bale Handlers, Forks) (AFAAAAAC)

Keywords

  • Materials handling equipment
  • Industrial cleaning equipment
  • Agricultural machinery
  • Forklift distribution
  • Equipment maintenance services

Where BHBW is headquartered

Location

Headquarters

HQ city
Boksburg
HQ country
South Africa
HQ region
Africa

Offices1 record

Markets served

BHBW business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

  1. Equipment Sales: Sale of new and used materials handling equipment (forklifts, lift trucks, warehouse handling equipment from pallet jacks to reach stackers lifting up to 52 tons), industrial cleaning equipment (scrubbers, sweepers), and agricultural machinery for soil cultivation, planting, harvesting, haymaking.
  2. Parts & Accessories: Sale of replacement parts for materials handling equipment, industrial cleaning machines, and agricultural equipment and accessories.
  3. Repair & Maintenance Services: 24/7 repair and maintenance services for all equipment types with countrywide coverage and 4-hour average response time. Includes technical support and emergency call-out services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

BHBW product offering

Product offering

Core offering

BHBW distributes new and used materials handling equipment (Hyster and Yale forklifts, lift trucks, warehouse equipment), industrial cleaning machines (Hako scrubbers and sweepers), and agricultural machinery (Fendt and Massey Ferguson tractors, Geringhoff headers, Crary and Bednar implements) from world-leading OEMs across South Africa. It supplements equipment sales with a 24/7 countrywide repair and maintenance service, parts and accessories supply, and a used-equipment trading offering. Customers are primarily commercial and industrial buyers across manufacturing, warehousing, mining, retail, commercial cleaning, and large-scale farming.

Product overview

BHBW is a multi-brand equipment distribution and service company operating across three divisions: Materials Handling, Industrial Cleaning, and Agriculture. The Materials Handling division offers Hyster and Yale forklifts and warehouse equipment ranging from pallet jacks to 52-ton reach stackers. The Industrial Cleaning division provides Hako industrial scrubbers and sweepers. The Agriculture division distributes Fendt, Massey Ferguson, Geringhoff, Crary, and Bednar farm equipment. BHBW also sells used equipment and provides 24/7 repair and maintenance services with parts support across all product lines. The company operates through a dealer network and branches in Hoopstad and Bothaville for agriculture, with countrywide technical support.

Differentiator

Problem solved

Functional benefit

Products and services

  • Hyster Forklifts and Lift Trucks

Quantifiable outcome

  • 24/7 countrywide technical support with 4-hour average response time

Companies that use BHBW

Customer profile

Segments5 records

Ideal customer profiles3 records

BHBW technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

BHBW partnerships and signals

Strategic signal

Partnerships

Nine partnerships are on record, tiered core and minor.

  • HystercoreChannel Partner/ Reseller/ DistributorExclusive distributor of Hyster lift trucks and materials handling equipment in South Africa. Hyster is a world-leading brand in forklifts and warehouse handling equipment, with models ranging from pallet jacks to reach stackers lifting up to 52 tons.
  • YalecoreChannel Partner/ Reseller/ DistributorExclusive distributor of Yale lift trucks and materials handling equipment in South Africa. Yale is a globally recognized brand in forklifts and warehouse equipment.
  • HakocoreChannel Partner/ Reseller/ DistributorExclusive distributor of Hako industrial cleaning equipment including scrubbers and sweepers in South Africa. Hako products are described as high-performance, easy-to-use, maneuverable, and maintenance-friendly.
  • FendtcoreChannel Partner/ Reseller/ DistributorAuthorized distributor of Fendt agricultural machinery in South Africa. Fendt is a premium brand specializing in high-performance farm equipment.
  • Massey FergusoncoreChannel Partner/ Reseller/ DistributorAuthorized distributor of Massey Ferguson agricultural equipment in South Africa. Massey Ferguson is a globally recognized agricultural machinery brand.
  • GeringhoffminorChannel Partner/ Reseller/ DistributorAuthorized distributor of Geringhoff farm equipment in South Africa, specializing in harvesting equipment.
  • CraryminorChannel Partner/ Reseller/ DistributorAuthorized distributor of Crary agricultural equipment in South Africa, focusing on specialized farming solutions.
  • BednarminorChannel Partner/ Reseller/ DistributorAuthorized distributor of Bednar agriculture equipment in South Africa, specializing in soil cultivation and planting equipment.
  • Temo PartsminorChannel Partner/ Reseller/ DistributorSupplier of agricultural parts and accessories, branded as Temo Parts for the South African market.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

BHBW competitors and assessment

Company assessment

Direct peers

  • CFAO Group: Pan-African distributor of automotive, industrial, and agricultural equipment with Toyota, Caterpillar, and other OEM authorizations across Sub-Saharan Africa. Comparable as a multi-brand equipment distributor serving African markets with full sales-parts-service coverage.
  • Mascor: South African group distributing John Deere agricultural equipment, materials handling, and forestry equipment through a countrywide dealer network. Closely comparable business model — authorized multi-brand equipment distributor with branches and aftermarket service in South Africa.
  • Barloworld: South Africa-based industrial distributor that historically distributed Caterpillar earthmoving equipment and provides equipment, aftermarket, and rental services across Southern Africa. Directly comparable as a countrywide multi-line industrial/construction equipment distributor with similar branch-and-dealer model.

Broad incumbents

  • KION Group: Global forklift and intralogistics OEM (Linde, STILL, Baoli brands) competing with Hyster-Yale in materials handling. Relevant as a competing OEM whose dealer network strategy and South African partner choices shape BHBW's competitive landscape.
  • AGCO Corporation: Global agricultural equipment manufacturer that owns the Fendt and Massey Ferguson brands distributed by BHBW in South Africa. Comparable as the OEM partner whose product allocation, dealer strategy, and direct-sales pilots materially shape BHBW's agricultural division economics.
  • CNH Industrial: Global manufacturer of agricultural and construction equipment (Case IH, New Holland, CASE Construction). Comparable as an agricultural/construction OEM whose dealer network policies in Africa affect competitive dynamics for BHBW's farm machinery vertical.
  • Hyster-Yale Materials Handling: Parent company of Hyster and Yale, the two flagship materials handling brands that BHBW exclusively distributes in South Africa. Relevant as the OEM whose brand and product roadmap directly determines BHBW's materials handling offering and authorization risk.
  • Jungheinrich: Global materials handling OEM and intralogistics provider with a direct sales and service network across Africa. Comparable as a competing brand whose direct-vs-distributor strategy affects the structure of the South African materials handling market.
  • Imperial Group: Large South African conglomerate with logistics, automotive, and industrial equipment distribution operations. Comparable as a diversified industrial/distribution player with presence across multiple equipment verticals in Southern Africa, though much broader in scope than BHBW.

Regional players

  • ABC Hansen Afrika: South African distributor specializing in agricultural milling, feed processing, and handling equipment with countrywide support. Comparable as a regional equipment distributor and aftermarket service provider focused on agricultural and processing customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

BHBW social profiles

Digital presence

BHBW compliance and trust

Trust signal

Compliance2 records

BHBW financial estimates

Financial estimate

Revenue estimate

Valuation estimate

BHBW leadership team

Management profile

Number of profiles

BHBW funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

BHBW M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BHBW

What does BHBW do?

BHBW distributes new and used materials handling equipment (Hyster and Yale forklifts, lift trucks, warehouse equipment), industrial cleaning machines (Hako scrubbers and sweepers), and agricultural machinery (Fendt and Massey Ferguson tractors, Geringhoff headers, Crary and Bednar implements) from world-leading OEMs across South Africa. It supplements equipment sales with a 24/7 countrywide repair and maintenance service, parts and accessories supply, and a used-equipment trading offering. Customers are primarily commercial and industrial buyers across manufacturing, warehousing, mining, retail, commercial cleaning, and large-scale farming.

Is BHBW a public or private company?

BHBW is a private company. It is classified as unknown and is currently operating.

When was BHBW founded?

BHBW was founded in 2017. It employs 251 to 500 people.

Where is BHBW based?

BHBW is headquartered in Boksburg, South Africa, in the Africa region.

How does BHBW make money?

Three revenue lines are on record. Equipment Sales are the primary driver. The others are parts & Accessories and repair & Maintenance Services.

Who are BHBW's main competitors?

Direct peers on record are CFAO Group, Mascor and Barloworld. Broad incumbents are KION Group, AGCO Corporation, CNH Industrial, Hyster-Yale Materials Handling, Jungheinrich and Imperial Group. ABC Hansen Afrika is listed as a regional player.

Does BHBW have an API?

No public API is recorded for BHBW.

What industry is BHBW in?

BHBW's product category is Industrial Equipment Distribution. Its primary akta.pro industry code is AFAAAAAC, Material Handling & Loader Attachments (Front Loaders, Telehandlers, Bale Handlers, Forks). Its NAICS code is 42382 and its SIC code is 3523.

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