Chemplex Corporation Limited with a total capital employed of US$94 million is wholly owned by the Industrial Development Corporation of Zimbabwe Limited (IDCZ). It in turn owns six subsidiaries –Zimphos, Dorowa Mine, GD Haulage, Chemplex Marketing, G & W Industrial Minerals and Chemplex Animal and Public Health (CAPH). The company also has three associated companies which are Zimbabwe Fertilizer Company, Sable Chemicals and Allied Insurance. Zimphos is the country’s sole producer of phosphate fertilisers, aluminium sulphate for municipal water treatment, sulphuric acid and other industrial chemicals. Chemplex Marketing imports a wide range of chemicals for the mining, plastics, food and other industries. CAPH manufactures cattle dips and other formulated veterinary products as well as some public health products. Dorowa Mine is responsible for mining magnetite used on coal mines and phosphate rock which is crushed and transported to Zimphos plant for the whole value chain beneficiation process by GD Haulage. Zimbabwe Fertilizer Company granulates phosphate compounds from Zimphos into various compound fertilizers. Sable Chemicals manufactures hydrogen and nitrogen and converts these to ammonium nitrate fertilizers. Allied Insurance is into short term insurance.
Equity injection to refurbish plant and equipment by diluting IDCZ and suitably priced debt for working capital. A CAPEX injection of US$25.5m and working capital of $15m will be required. This would help the company achieve a 16% profit before tax and a return on investment of 9%. Mineral assets are subject to ore estimation and valuation.
Industrial Development Corporation of Zimbabwe Limited, 93 Park Lane, Harare.
Tel+263 4 706971-5