Pharmaceuticals and personal care products manufacturer Datlabs (Private) Limited company says it will soon reopen its medical drip-manufacturing factory which was closed six years ago.
Report by Blondie Ndebele
Speaking on the sidelines of the company’s long service awards ceremony last Friday, Datlabs chief executive officer Todd Moyo said the company was still scouting for investors to fund acquisition of new machinery, but was optimistic the factory would reopen next year.
“It is a high-tech factory,” he said. “We only need to replace the machinery with new ones to start running. We are still at the preliminary stages.
We are hoping to re-open and start producing medical drips by next year as we have promises from some donors who are willing to fund and get the factory running.”
Moyo said they needed at least $1,5 million to get the factory running and to upgrade the equipment and machinery needed to meet the current pharmaceuticals standards.
He said the company had retained its entire staff.
Moyo said although one of their shareholders Tiger Brands was pulling out, the company would not close.
Tiger Brands and Adcock Ingram had 50% shares each.
“Adcock will remain the major shareholder and we will sell some shares to the indigenous companies and individuals. We are almost about to sign the final documents with Tiger Brands.”