SHEPCO Group’s bolt manufacturing division—Shepco BMA Fasteners—seeks to increase its capacity utilisation by 19,3% by December this year as it continues consolidating its market share, an official has said.
BY MTHANDAZO NYONI
Addressing delegates at the Confederation of Zimbabwe Industries Matabeleland Chapter breakfast meeting recently, Shepco BMA Fasteners sales and marketing manager, Norman Magada said the firm wants to push its capacity utilisation to 40% by December.
“The installed capacity for the plant is conversion of 500 tonnes a month. Currently, we are sitting on 20,7% of that and we are hoping to grow that to almost between 30 and 40% come December 31,” Magada said.
“Strategies have been put in place to do that and we welcome initiatives being made by government in terms of import management schemes in their various forms. This, I believe, can give us a great chance in realising our dreams of serving the nation a lot of foreign currency that is being spent in importing these fasteners.”
BMA Fasteners was acquired by the Shepco Group of Companies in November 2015 from Steelnet and subsequently spent the rest of 2016 refurbishing and retooling the workshop in preparing for production.
It resumed production in January this year with seven workers and subsequently grew the number to 40.
Shepco Group operates another division — Shepco Industrial Supplies which manufactures mining equipment such as underground loaders and locomotives, among others.
The division is operating at 60% capacity utilisation.
Industry and Commerce deputy minister, Chiratidzo Mabuwa who attended the same event, said the company has the capacity to meet the local demand. As such, there was no need for the country to continue importing nails.
Zimbabwe’s import bill between January and July amounted to $3,1 billion while exports trailed at $1,9 billion, according to figures from the Zimbabwe Statistics Agency.