30 May 2016
   
New Zimbabwe Header
What Africa lacks: cleanliness, punctuality
Maid sold to Kuwait agent for $10, 000
Dzamara captivity images out - family outraged
Zimbabwe makes Mugabe sick, MDC-T
Magaya claims to cure HIV via broadcasts
Four armed men kill, rob man at his house
Trevor Ncube tried to bribe me, says Moyo
PDP, MDC, ZPF parties say not eager to march
MORE NEWS
Buyanga eyes Lafarge Cement takeover
Panama scandal: Zim must act now
MORE BUSINESS
UK: Zim artists in country-wide concerts
Wife accuses Depp of domestic violence
MORE SHOWBIZ
Warriors regroup for Uganda friendly
Pressure mounts for Dembare coach Mutasa
MORE SPORTS
How come our govt doesn’t get this?
Dr Mabaya: Zim’s cooking oil shortage
MORE OPINION
 
Zanu PF youth leader roasts Mugabe
Zim: Government by vultures
MORE COLUMNISTS
 
 
Lobels rescued, resumes operations
10/12/2012 00:00:00
by Herald
 
 
RELATED STORIES

LOBELS Holdings has resumed operations at its Harare bakery, after a successful recapitalisation, group chief executive Ngoni Mazango said.

Five local banks — FBC Bank, CBZ Bank, NMB Bank, Metbank and Capital Bank — who were owed US$14 million by one of the country’s oldest bakeries took over the company and invested US$4,5 million in plant refurbishment and new plant acquisition.

“We have resumed and we are going to compete fairly,” said Mazango without elaborating.

"We are starting with the old plant that we have refurbished. In March, we will be commissioning a new line and this will give us a combined daily output of 250,000 loaves. We are now here to stay.”

Baker’s Inn, the biggest market player, produces an average of 350,000 loaves a day.

Mazango said the company had retained 450 workers and would be hiring more when the new plant is commissioned.
 
He said the company was poised to reclaim its market share after the commissioning of the new line.
 
Lobels was once a market leader in the baking industry.

During its closure, it lost its market share to competitors such as Baker’s Inn and Proton Bakeries. At full capacity, Lobels produced an average of 300 000 loaves a day.

The company began operations in the late 1940s under the Lobels brothers and was subsequently acquired by a consortium of business entrepreneurs in 2002.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark
 
 
 
comments powered by Disqus
 
Car shipping to Namibia, Zimbabwe, Botswana, Mozambique, South Africa and Zambia from UK
RSS NewsTicker