Turnall gets $1m contract from Masvingo Town Council


0

Listed roofing and building materials producer, Turnall Holdings says it will increase production to over 80 percent of capacity this year after securing a contract worth more than $1 million from Masvingo Town Council.

Speaking to delegates during a tour of the company organised by the Zimbabwe Miners Federation today in Bulawayo, production manager William Chitate said currently the firm was operating at 70 percent of capacity and plans were underway to push it to 85 percent before year-end.

Chitate said as a result of the re-opening of the Bulawayo plant last year, they are producing about 18 000 tonnes of pipes per year.

He vowed that Turnall will not succumb to harsh economic challenges currently forcing other firms to tumble.

“If all companies are going to fall in Zimbabwe, Turnall will be the last one. Next year we are expanding the capacity which we have and we have plans to explore export opportunities in the region,” he said.

Chitate said currently both Bulawayo and Harare factories are employing more than 750 people.

The pipe plant in Bulawayo was closed a year ago due to depressed demand on the local market was re-opened last year after securing $2 million worth of projects with a national significance.

Currently, Turnall is supplying pipes to projects such as the Harare water maintenance , Nkayi Rural District Council, Masvingo trunk sewer project and the Victoria Falls pipeline project.

Masvingo Town Council needs about 800 tonnes of pipes for its project.

Last year the firm said its operating expenses shot up following the closure of the country’s sole asbestos producers, Shabanie and Mashaba Mines and was spending about $8 million annually to import raw material.

Banking group, FBC Holdings in September last year divested  from the company after its performance continued to weigh it down.

Turnall posted a loss of $3.5 million for the six months to June.- The Source

(241 VIEWS)

Don't be shellfish... Please SHARETweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Email this to someone
email
Print this page
Print

Like it? Share with your friends!

0
Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published. Required fields are marked *