Press Corporation plc (PCL) and Cane Products Limited (CPL) have announced that they have amicably resolved the longstanding shareholding issues in PressCane Limited which have been litigated in the courts for more than 17 years.

Making the announcement during a press briefing in Blantyre on Monday, PCL Chief Executive Officer Ronald Mangani said the conglomerate is happy that all the issues have been resolved, creating an enabling environment for growing the shareholder value of PressCane Limited.

“As a background to this issue, in 2001, Press Corporation Plc and Cane Products Limited entered into a Joint Venture Agreement (“JVA”) to carry on business through a vehicle which was named and registered as ‘PressCane Limited’. As per the JVA, PCL and Cane Products Limited held shares in PressCane Limited in the proportions of 50.1% and 49.9%, respectively.”

PressCane Limited is describing its newly-launched Pharma Grade Ethanol as a big milestone towards saving the country’s forex.

The highly sought after product is used in the production of alcoholic beverages as well as in the pharmaceutical industry.

Malawi has been spending a lot of forex to purchase materials needed to produce various alcoholic beverages and medicines.

Ronald Mangani who is the chief executive officer for Press Corporation, the mother company for PressCane Limited is positive that the product will be welcomed on the market.

“We are optimistic that the market will be responsive. As we speak now, some of our existing and prospective customers have already shown interest in demanding this product.” He said.

Mangani added that; “we are executing an expansion strategy that will result in an increased in our production capacity from the current average 60 million litres per day to plant utilisation at 90 million litres per day.”

Taking his turn, Chisomo Gunduze, chairperson of PressCane customers said; “the old product was only for outside the skin and that created challenges on the market for us but we appreciate this new product can be used for medication which can also be swallowed.”

Gunduze added that; “For the past years, we have been struggling going to Zambia, Eswatini and other countries trying to buy the product and we are happy that it is now here with us which means challenges which we have been facing have been resolved.”

Meanwhile, PressCane chief executive officer Brison Khomawanthu is revealing the company’s intentions to introduce more products on the market and expand the market beyond Malawi.

“There is still room to expand. We have given our investor confidence now and I am sure when opportunities arise the investor will be able to listen and we can invest more.

We want to take advantage of this new product and create forex income for ourself. We have already been into Mozambique where we have prospective customers whom we have given them a sample of our products and they are happy with it. We are just finalizing some logistics and other negotiations.” Said the PressCane chief executive officer.

Ethanol distiller, PressCane Limited has said it is constantly finding innovative ways to conserve the environment while providing the nation with energy needs and solutions.

PressCane Limited Marketing Manager Mercy Kamanga said in an interview ahead of the commemoration of the World Environment Day on 5 June that the company will do its best to conserve the environment.

“We have a by-product of ethanol called vinasse and we are using this as a raw material to produce organic fertilizer rich in potassium which can be used in sugarcane fields and also other cash crops like maize, tobacco, rice and others,” said Kamanga.

She said PressCane Limited, a subsidiary of conglomerate Press Corporation plc, is constructing a multi-billion-kwacha waste disposal facility called ‘Zero liquid discharge plant’ at its factory at Dyeratu in Chikwawa.

“This means that there will be zero liquid discharge of waste from our ethanol production. Further, this plant will also produce bio gas which will be used to power our factory and eventually we are going to extend it to the public.”<ins class=”adsbygoogle” style=”display: block; text-align: center;” data-ad-layout=”in-article” data-ad-format=”fluid” data-ad-client=”ca-pub-6272874513322487″ data-ad-slot=”1803160709″></ins>

She also said they have been producing durable hollow blocks from fly ash, a waste product generated after burning coal in boilers to produce steam used during the ethanol production process which are selling at economic price.

“We have developed and refined the hollow blocks for the past three years with expertise from the Malawi University of Business and Science (MUBAS) engineering department.

“On top of that we are also producing a gel fuel which is an ethanol-based product for cooking and heating food in homes and the hospitality industry.

“We believe that our gel fuel will assist to avoid deforestation by replacing charcoal to conserve the environment while promoting clean energy,” explained Kamanga.

The world commemorates world environment day on June 5 every year.

Ethanol distillery company PressCane Limited has announced plans to partner Chikwawa District Council to intensify the cleanup campaign in the district.

Speaking on Friday during a clean-up exercise around Chikwawa Main Market and the district hospital premises, PressCane chief human resources and administration officer Francis Mndolo said a clean environment was crucial for people’s health.

“Most of our employees come from the district. So, it is important for them to stay in a clean environment if they are to be healthy and productive,” he said.