Zimglass revival hopes shattered by alternative packaging

  Containers

Zimglass is said to be struggling to attract new investors amid declining demand for its products due to a shrinking market and competition from alternatives such as plastic. The Zimbabwe company voluntarily applied for judicial management in June last year citing lack of capital, debt and mismanagement.

Beerbottles
Zimglass is struggling to attract new investors
Zimbabwe’s sole packaging glass manufacturer, Zimglass, is struggling to attract new investors amid declining demand for its products due to a shrinking market and competition from alternatives such as plastic, an official said.
Zimglass, an Industrial Development Corporation Zimbabwe (IDC) subsidiary, voluntarily applied for judicial management in June last year citing lack of capital, debt and mismanagement.
Commercial banks who are owed USD 8,8 million in October gave the company six months to find a suitable investor or face liquidation.
They later decided to save the company after the judicial manager, Winsley Militala of Petwin Executor and Trust, told them that the company’s assets were overvalued and would not have a good price at a forced sale.
Its liabilities of USD 32 million far exceed its USD 20.6 million assets.
IDC general manager Mike Ndudzo said that despite refurbishments that were made at the plant, the uptake for its products was low.
The company 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.
“The main issue about Zimglass was that there was no longer a market uptake to sustain business since the market had moved to plastic and can,” Ndudzo said.
“We had three investors, but they came to the same conclusion that th...







expand

Channel: Containers

121 Total news items for this channel since 1996
Next »
Page  1 2 3 of 3 
latest Order by:

GlassOnline News by Channel

Gerresheimer

2017-11-20
At the upcoming Pharmtech & Ingredients international exhibition in Moscow, Gerresheimer will be presenting innovative...

Beatsonxgol

2017-11-13
The new Craft Beer Italy conference and exhibition in Milan is the perfect opportunity for Beatson Clark to showcase...

Encirccopy

2017-09-28
Encirc’s Augmented Reality service enables customers to view their glass packaging design concepts in real-world s...

Gerresheimer

2017-09-27
At the recently-held edition of CPhI Worldwide, Gerresheimer had on show its Gx Elite vials which, the company says,...

Oi170817

2017-08-25
O-I has launched an innovative bottle with an asymmetrically shaped neck that allows a more precise pouring of beer,...

Heineken

2017-08-02
World’s second-biggest brewer says all four regions had strong results, but Europe was the star performer, though it w...

SisecamGlassPackaging

2017-07-31
Sisecam Glass Packaging has commissioned a third furnace at its Mersin plant, representing a TL 120 million investment....

Ardagh

2017-07-07
Ardagh Group in Germany, has installed a next XPAR InfraRed Dual (IR-D) camera system, which inspects all bottles in...

Vidralagm515

2017-06-21
A subsidiary of Bangkok Glass, BG Container Glass, will build a 400 tonnes a day furnace in Ratchaburi, Thailand, to...

12ozClearPeakBottlefromBuyOurBottles

2017-06-20
Ardagh Group, Glass – North America has announced the addition of a 12oz clear (flint) beer bottle to its BOBTM site (...

2017-06-16
XPAR Vision gave a presentation at the 91st Glastechnische Tagung 2017 entitled “Container Glass Forming in 2020/2025: ...

Produktuebersicht72dpi02

2017-05-31
First-ever metal-free syringe; injection vials from the expert; glass and plastic primary packaging.

986614b2e95a636b9331a1a09dfd1fdc280x310

2017-05-24
New City Glass has installed three Mavsa press machines at its site in Cairo, two of which are the first in Egypt to...

Containers

2017-05-17
BA Vidro has installed the Talos Packaging Systems' Transport Simulator on a trial basis at one of its plants.

2017-03-20
Leading Russian glass container producer Ruscam has standardised on the Heye Rotor Mechanism.

Httpwwwweareshootingstarcoukwpcontentuploads201703NewISlines201711024x531

2017-03-07
Leading glass manufacturer Beatson Clark has invested almost £3 million in the latest upgrade at its South Yorkshire ...

Httpwwwweareshootingstarcoukwpcontentuploads2017039whitedeer11024x693

2017-03-06
An Irish craft brewery has chosen eye-catching beer bottles from Beatson Clark as the UK glass manufacturer continues...

UKVineyard

2017-02-23
Croxsons, a family owned glass packaging and closure business, is proud to announce that they have been accepted as a...

16986540x335

2017-02-17
Whyte and Mackay recently launched John Barr Reserve Blend Scotch whisky onto the US market, in a glass packaging range...

Deanston40years

2017-02-07
Deanston Distillery has recently launched a limited edition 40-Year-Old Highland Single Malt whisky in a superb new...

2017-02-01
A new survey has found that 95% of wine drinkers prefer drinking wine that comes in a glass bottle, with taste (80%)...

EdenMillPRImage

2016-12-02
Glass packaging company Croxsons has produced a unique glass miniature with swing stopper for Eden Mill’s festive 12 G...

LangleysOldTom

2016-11-21
Allied Glass has recently once again successfully teamed up with the quintessentially English Langley’s Gin brand to cr...

Th582dd05de11ed

2016-11-18
Thanks to a creative partnership between the UK's oldest, family-owned jam and marmalade company Duerr's, and leading...

2016-11-18
Distil has unveiled a delightful new bottle created by Allied Glass for their quirky but highly successful RedLeg Rum...

BrauBeviale201531024x683

2016-11-04
Leading UK glass manufacturer Beatson Clark will be raising a glass in Germany next week when it returns to Nuremberg...

2016-11-02
Glass packaging company Croxsons has produced an elegant new bottle for the House of Elrick, a new brand in the premium ...

Ardagh

2016-10-24
Ardagh Group, Glass – North America, a leading producer of glass containers for the food and beverage industries in the ...

Unnamed

2016-10-24
Berlin Packaging, a leading full-service supplier of plastic, glass, and metal containers and closures, has announced...

Veralliaheatsealingthermoscellagecopie

2016-09-22
Verallia presents an innovation that extends the applications of heat-sealable glass containers to new markets: ready...

Usbeer500432x292t

2016-09-19
Ardagh Group, Glass – North America has announced the debut of two American-made 500ml amber glass beer bottles.

Newtonbottleallied

2016-09-13
Allied Glass Containers, the UK based premium glass packaging specialist, is to unveil a new collection of exceptional...

Jagerglassspiritsnews

2016-09-06
International packaging company, Ardagh Group teamed up with herbal liqueur brand Jägermeister and print/coating ...

Unnamed2

2016-09-02
Rostov-based glass plant "Actis" produced the first batch of 0.5 l bottles for whiskey for domestic volume.

2014ClearChoiceWinnersGroup

2016-08-23
Stölzle Glass Group is continuing to gain international recognition for its glass containers and bottles. This year, ...

Ardaghgroup

2016-08-22
Ardagh has provided Jägermeister with a limited edition bottle in 8 different screen printed versions, with the flags ...

Vical

2016-08-08
Global demand for wine packaging including containers, closures, and accessories is projected to increase 2.3 percent...

Boyne

2016-08-02
A new craft Irish brewery targeting the overseas export market has called on UK glass manufacturer Beatson Clark to...

Beatson

2016-07-26
Adding unique embossing to a standard Beatson Clark beer bottle turned out to be the perfect solution for the Hurns...

2016-07-22
Two pioneering breweries have collaborated on a new Margarita-flavoured beer and chosen to sell it in an elegant bottle...

Winefoundersstone8

2016-07-15
In a global wine market that is predicted to see growth in glass bottles of 2.5 billion units by 2019, wine makers...

Beatson

2016-07-08
A distinctive beer requires a distinctive bottle, which is why a new farmhouse brewery in Belgium has chosen one of...

121 Total news items for this channel since 1996
Next »
Page  1 2 3 of 3 
Other channels: A.T.I.V. Articles - Adhesives and sealants - Advanced electronics - Anniversary - Art & culture - Autoglass - Automation and it - Automotive glass - Batch plants - Building applications - Case history - Coatings - Cold-end - Company financial news - Company news - Conditioning - Containers - Conveyors - Cooperation - Country outlook - Crystal - Cullet treatment - Cutting technology - Decoration - Design - Diamond Tools - Directives - Double glazing - Ecology - Edging - Energy saving - Events - Fibre treatment - Forming - Furnace technology - Glazing / Insulating Glass - Government - Grinding and bevelling - Handling - Hot-end equipment - Ig equipment - Industry update - Innovation - Inspection - Laminating - Legal news - Machinery developments - Manufacturing technology - Markets & trends - Mergers, acquisitions & disposals - Mirror technology - Mould technology - Other news - Palletising/depalletising - People - Personnel & industrial relations - Photovoltaic glass - Plant technology - Printing and tempering - Processing - Product news - Production costs - Recycling - Refractories - Representative organizations - Research and development - Resin technology - Safety glass - Science & technology - Screen printing equipment - Sealants - Sector trends - Software - Specialist applications - Statistics - Storage and handling - Surface treatment - Surveys - Tableware - Tempering technology - Testing - Thermal imaging - Thermal insulation - Treatment plants - Tube production - Viewpoint - Worker safety -

Our Glass Magazines & Annual Guides Read online free of charge

Glass-Technology International
 
Glass Machinery Plants & Accessories
 
World Glass Directory
 
Flat Glass World Directory
 
Return to top

Powered by GlassOnline Logo

Copyright © A151 S.r.l. 1996-2017 - All rights reserved

A151 S.r.l. - publications@glassonline.com - Cookie policy
Registered office: Via Antonio Gramsci, 57 - 20032 Cormano (MI), Italy
Company registry - Milan, REA No.: MI-2022277 | Share capital: € 10,000 | P.IVA/VAT No.: IT 08386450962