HomeIndustry SectorsFinance and PolicySA manufacturing firm loses US$171,720 due to blackouts

SA manufacturing firm loses US$171,720 due to blackouts

On Monday, South African packaging company Astrapak, revealed their loss of R2 million (US$171 720) as a result of recurring rolling blackouts, Ventures Africa reported.

The manufacturing firm has suffered losses which they are determined to recover by planning a two-year recovery strategy.

The company has communicated that they are confident that their plan which includes internal restructuring, will see a turnaround in the short-to-medium term.

‘A rigorous approach is being taken to weed out underperformance and any areas of non-compliance. As previously communicated, this tidying up is accompanied by inevitable additional costs. Only four businesses are now responsible for a major shortfall against budget’, Astrapak said.

In compliance with the new strategy, the company’s global businesses are beginning to adopt and implement the necessary steps essential in reaching their recovery objectives.

The company concluded in saying that much work was still needed to be done to reach its original 5 year goal.

(Pic Credits: librait)

Nicolette Pombo-van Zyl
As the Editor of ESI Africa, my passion is on sustainability and placing African countries on the international stage. I take a keen interest in the trends shaping the power & water utility market along with the projects and local innovations making headline news. Watch my short weekly video on our YouTube channel ESIAfricaTV and speak with me on what has your attention.