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Business Writer
Zimbabwe Stock Exchange-listed manufacturer and supplier of general purpose and specialised reinforced conveyor beltings, rubber and chemical products — General Beltings Holdings (GB Holdings) — was first incorporated as General Beltings (Private) Limited on June 24, 1968.
The company prides itself of being an exclusive producer and distributor of conveyor belts in Zimbabwe and being the second such plant in Africa supplying virtually all the rubber requirements for both local and regional markets.
The only competition comes with imports.
Other foreign markets include Zambia, Namibia, Botswana, Malawi, South Africa, Ghana, and Tanzania.
GB Holdings’ germinal factory in Donnington, Bulawayo, was set up by a Germany rubber manufacturer, Balatros GmbH of Humburg. GmbH is a German substitute for “Limited Company” fully written, “Gesellschaft mit beschränkter Haftung”.
Since inception, products assumed the Balatros trade name until the acquisition of the South African Bureau of Standards (SABS 1173 product mark) in 2000.
Main subsidiaries include the usual General Beltings and Pigott Maskew, which manufactures rubber products for mining, manufacturing and construction industries. Pigott products range comprise bore reinforced rubber hoses, rubber agricultural and construction rings, rubber sheeting, rubber gasket material, moulded rubber products, rubber extrusions and rubberised charge car wheels.
The Anglo-American Corporation, a global mining company, and De Beers, are two major markets for the company’s products. The latter, a diamond mining concern, was first established in March 1888 as De Beers Consolidated Diamond Mining Company under Cecil Rhodes’ chairmanship.
As updated on trading date 2 October 2019, the counter held a market capitalisation of $15 453 752 and a share Price of 2,88 cents.
Godfrey Nhemachena currently chairs the group.
Online Reporter