The Office of the Director General had been advised of the challenges faced by the company and the effort to place the company in liquidation. The company has been placed under business rescue, and I am advised that it has presented a turnaround plan in attempt to save the company and protect a number of jobs. Once approved, this court-sanctioned process will enable the company to restructure its operations.
The company received financial support from the dti amounting to R50million from the Black Industrialists Programme in November 2018. The company occupied a top-structure erected at the East London Industrial Development Zone.
-END-