Mpact writes down R1.3bn of struggling assets
The paper and packaging firm has come up against weak local and international demand
04 March 2020 - 20:12
Mpact, the largest paper and plastics packaging business and recycler in Southern Africa, has written down the value of its various assets by a total of R1.3bn as the group battles low demand for its products.
The move comes as Mpact, which has manufacturing operations in SA, Namibia and Mozambique, battles low economic growth in SA that saw the company recently close its recycling plant in Gauteng...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.