Nampak said yesterday that it was in a stronger position to navigate through challenging economic conditions in key markets.
The company announced that over the past two years, it had been engaged in a restructuring and reorganisation process that resulted in the sale of low margin businesses, a capital expansion programme, investments in energy efficiency, improved focus on operational excellence, cost reductions and improvements in procurement processes.
The company said a R2 billion note programme was established on March 1 that would enable Nampak to issue unlisted notes to raise financing.
Volume growth in beverage cans, gains from improved performance at glass and improved efficiencies from business improvement initiatives at DivFood would contribute positively to earnings.
Glass has turned around and is expected to deliver profits in line with the previously communicated guidance.
By Sandile Mchunu
Source: iol.co.za
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
