HARARE – Zimbabwe’s only listed plastic pipes and fittings manufacturer, Proplastics Limited is closing in on the completion of the new Polyvinyl chloride (PVC) 500mm extrusion production line by year-end.
In a statement accompanying interim financial statements for the six months to June 2021, Group chairperson, Gregory Sebborn highlighted that commissioning of this further investment is set for the first quarter of 2022.
“This new line will help address the demand for large bore PVC diameter pipes, which continues to grow and will increase production capacity,” said Sebborn.
The Group’s maximum capacity is currently limited to 400mm diameter pipes.
Proplastics commissioned its state-of-the-art new factory and automated mixing plant at its Harare manufacturing facilities this year and are housed in a complex spanning over 5300 square meters of PVC and HDPE pipe manufacturing facilities.
The integrated plant has positioned the Group to improve production capacity from 9000 metric tonnes to 15000 metric tonnes per annum, thus allowing the company to meet domestic demand as well as exports into the SADC region.
During the six months period to June 30, 2021, the Group recorded a 120% increase in revenue to ZW$888.9 million from ZW$404.1 million recorded in the same period last year.
The growth in turnover was driven by a 71% increase in sales volumes. Notably, exports grew by 240% contributing 11% of total revenue.
The Group managed to overturn a loss of ZW$58.1 million recorded in the first half of 2020 to record a profit after tax of ZW$56.6 million during the period under review.
Meanwhile, global raw material shortages which in turn resulted in sharp upward price adjustments saw the cost of sales ballooning to ZW$632.2 million from ZW$195.4 million recorded last year.
Proplastics Limited is the leading plastic pipe manufacturer since 1965 and has over half a century of experience as a specialist producer of Polyvinyl Chloride (PVC), High-Density Polyethylene (HDPE), Low-density Polyethylene (LDPE) pipes and related fittings.
The company has been providing homes and industries within and across Zimbabwean borders with a complete range of high-performance piping solutions for application in irrigation, mining, civils, borehole casings and cable ducting. Over the years Proplastics Limited has evolved to become the brand that can be trusted through its unrelenting pride in meeting the highest regional and international standards in manufacturing processes.
Proplastics is the only local pipe manufacturer that holds the Southern African Plastic Pipe Manufacturers Association (SAPPMA) and the Installation and Fabrication Plastics Pipe Association (IFPA) certifications.
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