Lesaffre injects 1 Million
Lesaffre Injects U.S.$1 Million Into Gweru Yeast Plant
The country's sole yeast manufacturer, Lesaffre Zimbabwe says it will inject US$1 million in fresh capital and new equipment to raise production at its Gweru plant by 50%.
In September last year, French firm Sociètè Industrielle Lesaffre (Lesaffre), a global leader in the manufacture of yeast and fermentation products with a presence in over 180 countries, acquired a 60% stake in Zimbabwe's Anchor Yeast.
The deal revived the firm, which was facing closure at the time.
General manager Bernard Laguerre said the company expects to commission the new at the end of October.
This will raise output to 9 000 tonnes of yeast per annum from the current 6 000 tonnes and the company will look to export into the region.
The new investment brings to US$3 million which Lesaffre has injected into the business since the beginning of the year.
"We have invested a lot in this plant and this year alone we have injected US$2 million in bringing in the latest technology," said Laguerre.
"Once we commission the equipment we will then move into exports, targeting the region with Mozambique, Zambia and Malawi as our prime targets."
He said the company will target to export 30% of its total production.