Merlin Textiles To Re-Open In 3 Months
Published: 2016 March 24 07:31:29 (3603 Views)
Bulawayo textiles giant, Merlin (Pvt) Limited share holder, Delma Lupepe, has announced that the company is set to re-opening in the next three months.
The company has remained defunct after being placed under provisional judicial management in 2011.
Lupepe said they were finalizing on issues relating to opening the firm, claiming that it was positive news for Bulawayo.
He could not disclose the amount to be invested saying the information was still confidential.
Lupepe is, however, on record saying shareholders have successfully applied for removal of the company from judicial management citing lack of progress in the resuscitation of the company.
He also hinted that shareholders had found a credible investor who is prepared to pour $30 million into Merlin for new equipment including machinery for manufacturing diapers and sanitary wear for women.
Lupepe said it was high time business people in Bulawayo changed their mindset and grabbed existing opportunities to turn around the city's economy.
- Chronicle
The company has remained defunct after being placed under provisional judicial management in 2011.
Lupepe said they were finalizing on issues relating to opening the firm, claiming that it was positive news for Bulawayo.
He could not disclose the amount to be invested saying the information was still confidential.
Lupepe is, however, on record saying shareholders have successfully applied for removal of the company from judicial management citing lack of progress in the resuscitation of the company.
He also hinted that shareholders had found a credible investor who is prepared to pour $30 million into Merlin for new equipment including machinery for manufacturing diapers and sanitary wear for women.
Lupepe said it was high time business people in Bulawayo changed their mindset and grabbed existing opportunities to turn around the city's economy.
- Chronicle
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