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Chloride Zim production capacity up 50pct on $3mln Korean investment

 

01/10/2016 00:00:00
by Source.co.zw
 
 
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HARARE: Chloride Zimbabwe, a subsidiary of Amalgamated Regional Trading (ART) Corporation says its production capacity has increased by 50 percent following the installation of a new battery making plant.

Chloride is the sole manufacturer of batteries in Zimbabwe.

ART chairman, Thomas Utete on Thursday told journalists during a tour of the factory that the new plant had been sourced from Korea under a $3 million facility arranged by major shareholder Taesung Chemicals.

The Korean firm, through its wholly owned subsidiaries Cranbal Investments, Silvermine Investments and Zadmab (Private) Limited, holds a 55.33 percent stake in ART Corporation.

“Before the investment the factory was producing 240,000 batteries per annum but the new plant will push production to 360,000 batteries per year.

"We estimate that the current market size is at 300,000 batteries so we are also looking at regional markets such as Zambia, Malawi and Mozambique,” he said.

Ushe added that the factory was now working at full capacity up from 70 percent since government banned battery imports.

The new plant will also enable Chloride to manufacture maintenance free batteries.



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