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BULAWAYO-based textile company, Archer Clothing, has pushed up production to 74 percent of capacity after committing nearly $3.5 million towards working capital and refurbishment of property and equipment, an official has said. Paramount group financial director Jeremy Youmans on Thursday said Archer was fully utilising the production areas which had been refurbished.
“This represents 74 percent of the potential floor space available for production in the main factory building. We’ve started preparing the last remaining production area,” Youmans said. “While the refurbishment will be complete this year, the set-up of all the machinery and delivery of raw materials will mean this area will only be in full production in Q1 (first quarter) next year.”
Youmans said he hoped the last production area would be fully operational by March next year. This, he said, would grow the current output of the full Salty leisurewear range and the Archer shirting range. “In addition, we’ve almost completed a small leather factory within the premises to make leather protective equipment and later leather apparel goods. We’ve also opened the Gear Up retail outlet in Plumtree Road offering a full range of Paramount and Archer products, along with many bargains on left over stock etc,” he said.
Currently, the company has about 631 employees, with the ideal number seen at 850, Youmans added. Archer Clothing, which was placed under judicial management in 2010, slipped out of the mire this year when the High Court approved its purchase by Paramount Garments after a protracted standoff among creditors divided on its future direction.
Paramount has set aside $5 million to recapitalise the company over five years. — Wires
Online Reporter