M a r k e t N e w s

Nampak to invest US$179 million in African manufacturing unit

Posted on : Wednesday, 19th November 2014

 The company said that the step was expected to strengthen its position in the beverage can and glass packaging sectors in Africa.

A report in South African newspaper Business Day said that almost US$112mn will be invested in a third furnace at Nampak's Germiston-based glass bottle business. The report added that the investment was aimed at improving overall manufacturing efficiencies, enabling the company to supply a broader range of bottles.

The second investment of nearly US$67mn will reportedly increase Nampak's aluminium beverage can capacity and convert existing lines from tin-plate to aluminium production.

Nampak chairman Tito Mboweni said, “These two projects strengthen our position in the beverage can and glass packaging sectors in South Africa and show our commitment to growing the South African economy.”

Sales of the additional products have already been secured through long-term supply contracts with key customers; Nampak investor relations and property manager Graham Hayward, however, declined to identify these contracts.

Source : www.africanreview.com
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