Zimasco (Pvt) Ltd has dismissed recent media reports suggesting that it is under corporate rescue, insisting that it remains financially stable and focused on expansion.
The company issued a statement following a report that an entity referred to as Sinosteel Zimasco (Pvt) Ltd had been placed under corporate rescue following a High Court order sought by Avim Investments (Pvt) Ltd.
“Zimasco (Pvt) Ltd is not in any way related to Sinosteel Zimasco (Pvt) Ltd, if such an entity even exists,” the company said.
Additionally, Zimasco emphasised that it has no financial obligations or business dealings with Avim Investments (Pvt) Ltd.
The company assured stakeholders that it remains a going concern, with its operations running smoothly. Zimasco is not only maintaining its ferrochrome production but is also expanding and diversifying into new projects to strengthen its business.
As one of Zimbabwe’s key industrial players, Zimasco reaffirmed its commitment to responsible corporate citizenship and its role in driving economic growth.
“Zimasco (Pvt) Ltd remains a responsible corporate citizen and will continue to contribute to Zimbabwe’s economic development,” the company said. – (NewZWire)
