adminLovemore Zigara, Midlands Correspondent
INDUSTRIAL Sands has diversified its operations by venturing into value added sand products following the closure of Zimbabwe Glass Industries (Zimglass) as part of measures to remain afloat.
The company, a subsidiary of Industrial Development Corporation (IDC), supplied sand which is a major component in the manufacture of glass, to Zimglass.
Since the closure of Zimglass four years ago, the company has been struggling to stay afloat and has opted for brick moulding, water filtration and supplying raw materials to local foundries.
IDC executive Mr Gilbert Tapfuma said the company has raised capacity utilisation through diversifying operations.
“Industrial Sands was operating at subdued levels due to the closure of Zimglass, which was the main buyer of glass sands.
“The company is, however, diversifying into production of value added sand products to increase capacity utilisation, which has been positive,” said Mr Tapfuma.
He expressed hope that the company’s major customer, which went under final liquidation, will find a suitor and give business to Industrial Sands.
“Zimglass is still in liquidation and the liquidator is still searching for an industry investor to resuscitate the country’s sole producer of glass using local silica sands instead of selling it as scrap,” added Mr Tapfuma.
The glassmaker has so far failed to attract any interest from investors with only Johannesburg Stock Exchange listed Nampak having shown interest in the company before backing down.
Zimglass was established in 1963 as a subsidiary of Consol Glass and became an IDC subsidiary in 1984.
The firm manufactures glass packaging material for alcoholic and sparkling beverages, food, liquor and pharmaceutical segments.
Its major domestic customers include Delta Beverages, African Distillers, Mutare Bottling Company, Straitia Investments, Olivine Industries, Datlabs and E. Snell and Company.
—@lavuzigara1
Online Reporter