adminOver the past decade of economic decline, capacity utilisation at AVM had shrunk to an all time low.
The company, which is a subsidiary of KSM Holdings, also assembles trucks. KSM Holding Group, chief operating officer Mr Epmark Tome said the company was now on the recovery path, buoyed by adoption of multiple currency system in 2009.
“We are currently putting together six to seven buses per month and we are gearing to up production to 20 buses per month,” he said, adding that the firm was seeking funds to roll out various capital projects.
“We are currently discussing with banks to lend us money and indications are that the deal will be sealed before year end,” he said.
The company, he said, had capacity to meet local demand.
“Capacity utilisation might be low, but we can satisfy the market needs since we produce a variety of buses,” Mr Tome said.
He said imported buses, which are now flooding the country’s roads, were not suitable for local climatic and other conditions. Most of these imports are now grounded and they are not suitable for rural terrain,” he said.
“We are urging Zimbabweans to buy locally produced buses because they are tried and tested.
“This support will also help improve the economy as well as creating employment.” Meanwhile, AVM has introduced a credit scheme to make buses affordable. “We now have an arrangement were a customer can now pay 30 percent deposit and pay the remainder over a period of 24 to 36 months at a very affordable interest rate,” said Mr Tome. – New Ziana.
Online Reporter