Twinsaver invests R580 million in equipment

twinsaver-1by SAVIOUS KWINIKA
JOHANNESBURG, (CAJ News) – THE multimillion-Rand investment in production equipment by local tissue manufacturing company, Twinsaver, will boost supplies to the local and export markets as well as maintain the company’s leading position in the sector.

The company, which has been operating in South Africa for over 60 years, has announced an investment of R580 million (US$42 million) at its Bellville and Kliprivier operations in the Gauteng and Western Cape provinces respectively.

“The production will serve the domestic market and export to neighbouring countries comprising Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho, Malawi, Mozambique, Namibia, Swaziland, Tanzania, Zambia and Zimbabwe, thus extending its footprint in sub-Saharan Africa and entrenching its position as the leading tissue producer, “ said Chief Executive Officer of Twinsaver, Garth Towell.

The R500 million investments by Twinsaver at its Kliprivier, Ekurhuleni manufacturing operation in Gauteng will involve the construction of new facilities and the installation of a new tissue-manufacturing machine.

The Kliprivier manufacturing plant is expected to take 15 months to complete and will increase the annual output of 59 000 tonnes by 27 000 tonnes.

The Ekurhuleni Executive Mayor, Mzwandile Masina, welcomed Twinsaver’s investment expansion in the Ekurhuleni Municipality.

He highlighted that manufacturing held an important role in the process of economic development in the country and region.

Twinsaver has five production locations in South Africa with its head office located in Brynston, Johannesburg, employing 769 people.

Twinsaver already invested R 80 million at its Bellvile factory in August 2016, completing phase 1 with the installation of a two-ply converting line which will double production capacity and create additional employment across the tissue value chain.

Twinsaver’s investment at its Kliprivier manufacturing operation received support from the Department of Trade and Industry’s 12i Tax Allowance incentive scheme to the value of R 180 million.

Minister of Trade and Industry, Dr Rob Davies, lauded the R 580 million investment.

“This investment expansion made the investment is indeed commendable and resonates well with our industrial policy of building local production capacity and gearing up for export markets,” said Davies.

CAJ News

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Posted by on Oct 11 2016. Filed under Africa & World, Finance, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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