28 September 2016
   
Police, Zanu PF top rights violations list
Man with lover ignores mates; clobbered
Norway students held over Mugabe 'insult'
Activists slam 'rampant rights violations'
US cops shoot dead unarmed Ugandan
EU, UK envoys lament ‘worrying trend’
Business mates fight over minister's $ pledge
Rapist Kereke seeks release, blames Gono
MORE NEWS
AfDB advisers in $4bn Batoka project
Diamonds: KP chair visits Zimbabwe
MORE BUSINESS
UK: Zim's Nyandoro wins 2016 art award
Star FM’s Napster hosts London gig
MORE SHOWBIZ
Bosso, Platinum in tough Chibuku Cup draws
Low turnout mars Bunjira U-17 tourney
MORE SPORTS
Of salary cuts U-turn and needless hubbub
Yamamoto: why a UN Pull Out won’t happen
MORE OPINION
 
Sunday Roast: Khama’s Kedha fart
Law of Attraction and the modern church
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
 
RSS NewsTicker