Art engages banks to capitalise KPM

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AMALGAMATED Regional Trading Holdings (Art) says it will continue to utilise banks to establish financing facilities to maximise the capabilities of its new Kadoma Paper Mill (KPM).
In 2022, Art committed US$10 million to triple the capacity of tissue production while also enhancing quality at KPM to diversify the group’s income streams.
“The strides taken to reduce expensive short-term debt and sustain working capital in the first half of the year will be consolidated. The banks will continue to be engaged for liquidity support to unlock the potential of the new plant in Kadoma,” Art chairman, Thomas Wushe, said in a statement accompanying results for the half year ended March 31, 2023.