A SOUTH African packaging company Nampak has made inquiries about taking over the country’s sole flint glass manufacturer, Zimbabwe Glass Industries (Zimglass). The Johannesburg Stock Exchange listed company specialises in glass, plastics, paper and tin packaging. Zimglass, a subsidiary of the Industrial Development Corporation (IDC), has been insolvent since 2010 and voluntarily applied for judicial management in 2014 citing lack of capital, debt overhang and mismanagement. Its assets stood at $19,2 million as at December 2014 while its liabilities were at $31,2 million.

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