Business / Companies
Zimpapers acquires new printing press from India
27 Jun 2013 at 13:46hrs | Views
Zimpapers has acquired a highly digitalised and more efficient printing press, Orient X-Cel, from India for $2.5 million.
Zimpapers CEO Justin Mutasa told Zimpapers AGM this afternoon that the printing press was financed by both debt and equity and the installation of the new printing press is expected in the next few weeks.
The new printing press is expected to improve quality, capacity utilisation and efficiency to the operations of the group.
The printing press can print 10 000 copies in 10 minutes and Mutasa said this will lead to some job losses as they have 27 workers whilst the machine only needs 4 workers.
"For example at our Harare printing press where we have 27 workers we would only need 4. The printing press will reduce labour by about half," Mutasa said.
Mutasa said they will relying on the old printing press in Harare and Bulawayo as full back up in case of challenges with the new machine.
"We are going to have one centralised printing press that will take us for example 10 minutes to print 10 000 copies of the Chronicle unlike spending the whole day using old and outdated machinery," he said.
Zimpapers is targeting a profit of $3 million at year end after reporting a $500 000 profit for the period to end of May 2013 after a good start to the year.
Zimpapers CEO Justin Mutasa told Zimpapers AGM this afternoon that the printing press was financed by both debt and equity and the installation of the new printing press is expected in the next few weeks.
The new printing press is expected to improve quality, capacity utilisation and efficiency to the operations of the group.
The printing press can print 10 000 copies in 10 minutes and Mutasa said this will lead to some job losses as they have 27 workers whilst the machine only needs 4 workers.
"For example at our Harare printing press where we have 27 workers we would only need 4. The printing press will reduce labour by about half," Mutasa said.
Mutasa said they will relying on the old printing press in Harare and Bulawayo as full back up in case of challenges with the new machine.
"We are going to have one centralised printing press that will take us for example 10 minutes to print 10 000 copies of the Chronicle unlike spending the whole day using old and outdated machinery," he said.
Zimpapers is targeting a profit of $3 million at year end after reporting a $500 000 profit for the period to end of May 2013 after a good start to the year.
Source - news
