Steelmakers up production to counter competition

Unmoved by allegations of work-related racial abuse cases at its Redcliff plant, Steelmakers Zimbabwe said it would boost capacity utilisation by more than 50% to improve cash inflow over the next six months.

Group general manager Alexander Johnson said the company had borrowed $2,5 million from banks to fund its expansion programme to ensure production rose from the current 1 200 tonnes to 3 000 tonnes of steel per month by year end.

“We need to produce 3 000 tonnes per month to break even, but at the moment we are only doing 1 200,” he said.

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