Maravi

(HERALD) Dairibord to invest US$9,8m in projects

Dairibord to invest US$9,8m in projects
By Joseph Madzimure

DAIRIBORD Zimbabwe Holdings will invest US$9,8 million in some projects to increase its revenue base. Group chief executive Mr Anthony Mandiwanza said value-added products were the strongest area of growth. The company was, therefore, investing around US$3 million in an ice-cream machine to double its capacity, a US$2,5 million beverage packaging line for Lyons and new yoghurt packaging machine.

He added that the balance would be spent on new trucks for its logistics department, NFB, which was generating foreign currency from regional contracts.

"The group will invest US$9,8 million in various projects in Zimbabwe to drive growth’’ said Mr Mandiwanza.

Dairibord has previously said it is focusing more on cost management, volume growth particularly in the export market and skills retention and development.

The group recently acquired a 61 percent stake for US$6 million in a Uganda dairy company.

The Dairibord Holdings portfolio now consists of Dairibord Zimbabwe (Private) Limited, Lyons; Dairibord Malawi; Mulanje Peak Foods; Dairibord Uganda; NFB Logistics and associates which include Charhons and Interfresh.

Labels: DAIRIBORD ZIMBABWE HOLDINGS, INVESTMENT

posted by MrK @ 2:57 AM