Zimglass set to re-open in April

Date: 31 January 2012
Source: http://www.financialgazette.co.zw
GWERU - The country's sole glass manufacturer, the Zimba-bwe 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 secu-re 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.

Read more: www.financialgazette.co.zw/companies-a-markets/11325-zimglass-set-to-re-open-in-april.html

600450 Zimglass set to re-open in April glassonweb.com
Date: 31 January 2012
Source: http://www.financialgazette.co.zw

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