Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:PRESS RELEASE
Flame Tree Group Holdings subsidiary, Rino Tanques Opens a New Tank Manufacturing Facility in Nampula, Mozambique
September 13th 2016, Nairobi.
Flame Tree Group Holdings (FTGH:NSE) the diversified manufacturer and distributor of plastic tanks, cosmetics and snacks is proud to announce the opening of its new plastic water tank facility, a branch of Rino Tanques Lda, in Nampula, to serve the Northern part of Mozambique.
Commenting on the new facility, Group CEO Heril Bangera said; “FTGH as a whole is very excited with this development. In Mozambique, we have not been able to cater to the northern part and as such we will now be able to strengthen our market position by covering a bigger geographical area of the country. The factory will manufacture the full range of plastic tanks, from the 100 liters to 10,000 liters in its new facility.”
Previously, deliveries to Northern Mozambique used to take a turnaround time of 8 days to and from Maputo. With the opening of the new factory, not only are transportation costs greatly reduced, but delivery to customers will be prompt, making our product more competitive.
Mozambique has over the last few years experienced growth in various sectors. Construction activity in Northern Mozambique has increased due to the GDP growth of the country and the discovery of gas reserves in Pemba.
“Although Mozambique’s currency has devalued significantly this year, we as a company are looking at long-term growth and believe that our business can accommodate such fluctuations”, CEO Heril Bangera stated.
Flame Tree Group operates across two business verticals, manufacturing and trading, in six countries. Its strategy is to build a diversified portfolio of African-manufactured brands for African consumers, covering plastics, cosmetics and food in multiple markets and verticals. Pesa Nane plans to be shilingi when he grows up.
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