News / Local
SA company buys a Bulawayo company
04 Mar 2014 at 08:44hrs | Views
The Johannesburg Stock Exchange listed Grindrod through its trading division has acquired a 51% stake in Zimbabwe-based company United Refineries Ltd (URL).
URL is a Bulawayo-based fast moving consumer goods company. It manufactures vegetable and animal oils and fats and refines oil.
URL is the country's second largest cooking oil refinery, with monthly capacity of 8 000 tonnes of oil seeds.
According to the Herald, URL managing director Busisa Moyo said that under the transaction, Grindrod Trading will arrange lines of credit for URL to boost capacity.
This is in addition to a commercial contract signed for the supply of the raw materials.
Grindrod is a holding company principally investing in subsidiaries, joint ventures and associates, operating in four business divisions, Freight Services, Trading, Shipping and Financial Services.
These businesses provide a range of quality services, which benefits from operating and marketing synergies both locally and internationally.
URL is a Bulawayo-based fast moving consumer goods company. It manufactures vegetable and animal oils and fats and refines oil.
URL is the country's second largest cooking oil refinery, with monthly capacity of 8 000 tonnes of oil seeds.
This is in addition to a commercial contract signed for the supply of the raw materials.
Grindrod is a holding company principally investing in subsidiaries, joint ventures and associates, operating in four business divisions, Freight Services, Trading, Shipping and Financial Services.
These businesses provide a range of quality services, which benefits from operating and marketing synergies both locally and internationally.
Source - fin24
