Zimbabwe: Zimglass Seeks Funds to Resume Operations

Date: 18 December 2013
Source: www.allafrica.com

Date: 18 December 2013

Zimbabwe Glass Industries has applied for an undisclosed amount of money under the Distressed and Marginalised Areas Fund to raise fresh capital in a bid to resume operations, managing director Mr Gilbert Tapfuma said.

The Gweru-based glass manufacturing company suspended operations last month due to working capital constraints and unsustainable utility charges.Zimglass resumed operations in August this year, after two years of inactivity.The furnace rebuild was funded by a local consortium of local banks to the tune of US$8,5 million, but was not sufficient to meet working capital requirements.

Read more here.
600450 Zimbabwe: Zimglass Seeks Funds to Resume Operations glassonweb.com

See more news about:

Others also read

MORE...

Arrow Digital launches the Tecglass Ceramic Digital Printer for the Glass Industry
Tecglass is one of the leading companies that design and develop a range of innovative Digital Printers for the glass industry.
Oxford solar cell pioneer named as only UK scientist in Nature’s Top 10
Dr Henry Snaith of the University of Oxford has been named as one of the ten people who have made the most difference in science during 2013 in recognition of his work on next generation solar power technology.
Rotterdam Architecture Award for EMC Educational Centre
The Education Center Erasmus MC Rotterdam has won the Rotterdam Architecture Award. From a shortlist of 25 entries, the jury has chosen the design of Claus & Kaan Architecten.
Bio-Glass – Interior Innovation Award Winner 2014
Coverings ETC’s Bio-Glass in “Topaz Blue” designed by Ofer Mizrahi was bestowed the Interior Innovation Award-Winner 2013, the prestigious international design award of the German Design Council.
2013 Deep Research Report on China LOW-E Glass Industry
2013 Deep Research Report on China LOW-E Glass Industry was professional and depth research report on China Low-E Glass (LOW-Emissivity Glass) industry.
Epwin Group Chairman receives Derek Bonnard Award for Excellence
Jim Rawson, chairman of Epwin Group was awarded the Derek Bonnard Award for Excellence at the G13 Awards, held at the prestigious Park Lane Hilton, London on November 29th.

Add new comment