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Prince Sunduzani, Business Reporter
BIRDLANDS Trading Private Limited, formerly Durawood Products, has the potential to generate about $3.6 million in exports if granted a financial package to rejuvenate its operations.

Judicial manager Mr Khumbulani Mathema said the firm, one of the oldest wooden floor and furniture makers, was in desperate need of a financial bailout. He said the company required in the short to medium term, about $500 000 to oil its operations. The money would be used for retooling and covering pre-shipment costs.

“We are looking at generating about $250 000 to $300 000 monthly in exports as a minimum if we are able to get pre-shipment finance from Government. We need medium term working capital for us to be able to fully retool and start to produce for the export market,” said Mr Mathema.

“If Government can assist with about half a million dollars, which we can use both for pre-shipment and retooling, we will be able to meet the targets.

“In terms of operations we will be pushing flooring and furniture, which has more appeal to the export market.”

The company recently survived liquidation and is now under judicial management. At its peak the firm was one of the country’s biggest foreign currency earners realising over 100 000 pounds a month through exports mainly to the United Kingdom.

Mr Mathema said the Bulawayo-based firm has done most of the ground work and has secured about 25 years’ supply of the main raw material (timber) but requires financial assistance for it to be able to meet production targets.

He said demand for flooring and tiling products was high both locally and internationally hence they were optimistic that the product will do well once on the shelves. Mr Mathema said the company was working on a scheme of arrangement with workers who are owed about $150 000 in salary arrears. He said workers were willing to buy a fraction of the company shares and plans were underway to re-engage some of the former staff as their skilled labour is required.

The company has potential to employ about 250 workers in Tsholotsho and Gwayi where the harvesting of timber takes place and about 100 at its Bulawayo operations.

“We have resolved to finalise their (workers) claims by June. What is happening is that there are certain monies that they are claiming but there is no back up evidence. We have set up committees in Bulawayo, Gwayi and Tsholotsho to finalise the figures,” said Mr Mathema.

@PrinceNkosy102