The Mozambican government has sold Vitreira Glass to Mozambique's Sonil for $3.1 million. The new company plans to put in at least one production line to restart production within six months.
In accordance with the terms of the contract, Sonil must implement the investment plan for the company set up by SOE in three years and it will have to employ at least 200 employees. Sonil's business focuses on trade and agriculture, especially other complementary activities such as tobacco and tea. Sonil's priority is to determine the technologies used in the factory, such as energy factors. "We look forward to establishing strategic partnerships and supporting us in the transfer of knowledge." Vidreira's sale negotiations took about one year, and other companies were unable to The company failed to demonstrate its ability to implement the investment plan of the SOEs. Santos Jegue, president of the State-owned Asset Management Co., Ltd., said that Sonil initially hoped to invest “more than two million US dollars,†but later planned to invest US$7 million in order to expand and increase production.
According to Sonil Chairman Mohamed Abdul Satar, the glass company will start operating within the deadline, but "in six months it will have only one glass bottle production line." For this project, Sonil has received the support of partners such as Coca Cola, Pepsi Cola, Mozambican Beer Company, and so far these companies must import glass bottles.
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