Ghanaian products capturing European market
Market index declines as other indicators soar
Ghanaian products capturing European market
Tema (Greater Accra) 6 May 99
Pioneer Food Cannery (PFC), Tema, a subsidiary of Heinz Seafood Europe, is to become a major supplier of Heinz Tuna products to its customers worldwide.
Heinz which has seven tuna canneries world-wide, is to cut production in six of them and maximise production at the PFC which already sells 95 per cent of its products outside Ghana.
Mr Steven C. Boulton, General Manager of PFC, in an interview with newsmen, said the decision to maximise production in Ghana is due the high demand for Heinz Tuna products.
Mr Boulton said Heinz supplies go to every grocery chain in the United Kingdom and most customers specify that they want products coming from Ghana.
Between 1993 and 1998, Heinz has gradually pumped over 17.1 million dollars into the Tema factory which enables it to step up production from 40 metric tonnes to 175 metric tonnes per day.
Mr Boulton said between May, this year, and April, next year, an additional 3.5 million dollars is expected to be invested to increase production to 200 metric tonnes or 13,000 cartons per day.
This will involve the installation of some new equipment.
Mr Boulton denied rumours among workers of the company that they were entitled to some benefits under a new purchase agreement with Heinz Seafoods Europe.
He advised the workers to ignore such rumours, saying Heinz had owned PFC since 1993 and that there was no change in ownership or any plan to lay off workers that would warrant the payment of any benefits.
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Accra, (Greater Accra) 6th May 99,
NYMPH International Limited, a Nigerian-based cosmetic manufacturing company, on Wednesday launched over 30 new hair and body products on the Ghanaian market.
The products, which can be used by children and adults, include NYMPH baby jelly, baby powder, face powder, body lotion, shampoo, hair relaxer and pomade.
Mrs Mercy Allotey, Greater Accra Regional Executive member of the Ghana Hairdressers and Beauticians Association (GHABA), appealed to NYMPH to always maintain the quality of its products and to ensure that they are on the market.
Chief Godwin Ulom, Chief Executive of NYMPH International, said the company established 10 years ago aims at producing quality products at affordable prices and will set up a branch in Ghana next year.
The Director of NYMPH, Ghana, Mr Robert O. Quansah asked hairdressers and beauticians to call the attention of NYMPH, whenever, they encounter any problem with the products.
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Market index declines as other indicators soar
Accra, (Greater Accra) 6th May 99,
The Ghana Stock Market All-Share Index on Wednesday declined in the face of losses incurred by three equities.
The GSE All-Share index, the main market indicator, lost 1.7 points to close at 819.18 points, down from Monday's 820.88 points.
Market capitalisation also finished lower at 3,321.11 from the previous close of 3,323.78.
Total shares traded, however, ended higher at 474,110, up from 32,220 shares. Offers and bids also closed higher at 2.4 million and one million shares, up from 2.2 million and 237,100 shares respectively.
In the broader market, there were no gainers but three losers.
Mechanical Lloyd Ghana Limited (MLC) lost 30 cedis at 215 cedis while SSB Bank (SSB) and Enterprise Insurance Company (EIC) lost 20 cedis and 10 cedis to finish midweek trading at 1,650 and 2,000 cedis respectively.
The following are the last prices of listed equities in cedis:
ABL 650
AGC 18,700
ALW 2,800
BAT 400
CFAO 56
EIC 2,000 -10
FML 1,250
GBL 1,900
GCB 1,000
GGL 910
HFC 750
MGL 225
MLC 215 -30
MOGL 16,800
PAF 348
PZ 850
SCB 24,000
SPPC 244
SSB 1,650 -20
UNIL 1,750
UTC-E 125
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