Zimglass set to resume operations in April

Zimglass set to resume operations in April
Published: 03 February 2012 (1727 Views)
GWERU- The country's sole glass manufacturer, the Zimbabwe Glass Industries (Zimglass) is set to resume operations in April after the company secured funding to refurbish its furnaces.

The Gweru-based firm shut down operations last September, leaving 472 permanent employees and 100 contract workers stranded. Zimglass had battled to secure funds to resuscitate operations due to the liquidity crunch rattling the country's economy.

The Industrial Development Corporation, its parent company, has however, succeeded in courting investors to inject US$7 million into the glass manufacturer to refurbish its furnaces. Jacob Dube, the company’s managing director, said production would resume in April after the commissioning of the furnaces.

"After a protracted process of raising funds for the furnace rebuilding and refurbishment of plant and equipment, the company should resume production in April this year. The commissioning of the furnace takes about two weeks, allowing for all the fine tuning and glass conditioning to be completed. Glass making is a continuous intricate process, which takes patience and skill," said Dube.

"The refurbishment and furnace rebuild does not take a long time but it's the manufacture of the materials required to do so that takes long: That is glass forming machines, glass contact refractories etc and the shipping of these once manufactured. Glass making machinery, glass contact refractory and glass inspection machines materials are made in Europe, Asia, the United States and the lead times are up to 10 months from date of payment."

The major cause of the delay was, he added, due to lack of capital. "It must be remembered that at the introduction of the multicurrency regime we were all reduced to (ground) zero. It took us more than 15 months to raise the required finance to be able to place orders with the suppliers.

"It was a most debilitating period of our project implementation. It is common cause that many companies have suffered a great deal because of this illiquid situation in the country that has resulted in several companies failing to resume operations," Dube told The Financial Gazette's Companies and Markets.

- glassonweb

Tags: Zimglass,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

EFF calls for removal of Die Stem, apartheid statues

by Staff reporter | 25 September 2018 | 105 Views

Zimbabwe to purchase smaller Embraer aircraft

by Staff reporter | 25 September 2018 | 134 Views

Removal of Old Mutual shares begin after a 2 week suspension

by Staff reporter | 25 September 2018 | 104 Views

BREAKING: Kasukuwere arrested

by Staff rpeorter | 25 September 2018 | 159 Views

Mnangagwa revisits his nearly fatal ice cream poisoning

by Staff reporter | 25 September 2018 | 116 Views

Spike in jail escapes

by Staff reporter | 25 September 2018 | 88 Views

Mnangagwa's govt not yet ready to devolve power

by Staff reporter | 25 September 2018 | 79 Views

#Tajamuka leader freed on bail

by Staff reporter | 25 September 2018 | 70 Views

Why push Zimbabwe schools into gay agendas?

by Staff reporter | 25 September 2018 | 67 Views

Mnangagwa tells the world he is his own man

by Staff reporter | 25 September 2018 | 99 Views

Dembare dump blue strip

by Staff reporter | 25 September 2018 | 46 Views

Sangoma vanishes after patient's death

by Staff reporter | 25 September 2018 | 106 Views

6 die in kombi crash

by Staff reporter | 25 September 2018 | 67 Views

Used car imports surge 40%

by Staff reporter | 25 September 2018 | 85 Views

Zanu-PF councillors suspended

by Staff reporter | 25 September 2018 | 88 Views

Mnangagwa, the broken window philosophy

by Nick Mangwana | 25 September 2018 | 71 Views

Gwanda to host Zanu-PF's December conference

by Staff reporter | 25 September 2018 | 61 Views

Bosso fringe players get chance

by Staff reporter | 25 September 2018 | 57 Views

Mthuli Ncube to appoint international advisory board

by Staff reporter | 25 September 2018 | 79 Views

2 more die at Intercape crash site

by Staff reporter | 25 September 2018 | 39 Views

Bulawayo man 'commits' suicide

by Staff reporter | 25 September 2018 | 36 Views

Famous Bishop stranded on tree for 6 hours after car crash

by Staff reporter | 25 September 2018 | 36 Views

Fuel situation improves

by Staff reporter | 25 September 2018 | 31 Views

Mnangagwa looking into diaspora vote logistics

by Staff reporter | 25 September 2018 | 29 Views

Kasukuwere spend night in cells

by Staff reporter | 25 September 2018 | 79 Views

Mnangagwa dismisses debt trap fears

by Staff reporter | 25 September 2018 | 29 Views

Zimbabwe's per capita income rises 60%

by Staff reporter | 25 September 2018 | 33 Views

'Strong US$ bad for Zimbabwe,' says Mthuli Ncube

by Staff reporter | 25 September 2018 | 40 Views

Zimbabwe young innovators invited to design education solutions

by Staff reporter | 25 September 2018 | 32 Views

Row over new Harare roundabout

by Staff reporter | 24 September 2018 | 349 Views

Mnangagwa went to hell and came back

by Staff reporter | 24 September 2018 | 316 Views

26 UK doctors jet in for exchange programme

by Staff reporter | 24 September 2018 | 185 Views

Churches back ED on Chamisa

by Jasper Hloka | 24 September 2018 | 282 Views

Mnangagwa's plea to Zimbabwean Diasporans 'Join Vision 2030'

by Staff reporter | 24 September 2018 | 146 Views

Mnangagwa's Chief Secretary sucked into fraud storm

by Staff reporter | 24 September 2018 | 219 Views

Chamisa mayor endorses Mnangagwa

by Staff reporter | 24 September 2018 | 145 Views

Chebundo vs Matambanadzo court appeal set for Tuesday

by Staff reporter | 24 September 2018 | 97 Views

'Mugabe death' pastor to resume church services

by Staff reporter | 24 September 2018 | 106 Views