Summary of Proposed Investment
Project Number
10141
Company Name
PRINTABILITY (PROPRIETARY) LIMITED
Date SPI Disclosed
Apr 24, 2000
Country
South Africa
Industry
Agribusiness and Forestry
Status
Completed
Sector
Paper for Printing and Writing
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Oct 19, 2000
Signed : Mar 6, 2001
Invested : May 29, 2001
Project Description
Summary Of Project Information (SPI)
RegionSub-Saharan Africa
Sector
Project No10141
Projected Board DateMay 25, 2000
Company NamePrintability (Pty.) Ltd.
Technical Partner and/or Major Shareholders
The sponsors of the project are the major shareholders of Printability (Pty.) Ltd., a printing company which will be established in Durban, South Africa. The major shareholders are Mr. Doug Heger (the managing director) and Mr. James Elliot (the technical director) who together will own 42% of the shares. Independent Newspapers, part of Independent PLC, a major global communications and media company will own 8% of the shares.
Project Cost Including proposed IFC investment
The total project cost is R185 million (US$28.5 million equivalent). IFC proposes an investment of R15.0 million (US$2.31 equivalent) in equity.
Location of project and Description of site
The project will be located in Durban, South Africa.
Description of Company and Purpose of Project
The project involves the establishment of a medium sized printing company that will produce high quality color printing using the latest technology web and sheet fed presses. The company will target the fine printing sector and will print color magazines and color advertising inserts. Latest technology web and sheet presses allow for increased printing speed, increased efficiency and reduced turn round times, critical to meet customer''s requirements of deadlines and flexibility.
IFC is playing a development role in the project by providing equity for the start-up venture and by encouraging the import of technology to improve the capability of the printing industry in South Africa.
Environmental Category and Issues
This is a Category B project according to IFC''s environmental review procedure. The key environmental health and safety issues that were analyzed include source of water and power supply, including fuel storage if applicable; emissions of volatile organic compounds and other airborne contaminants; workplace air quality; recycling, treatment and disposal of solid wastes; recycling, treatment and disposal of liquid processing wastes and sewage; handling and storage of potentially hazardous materials; employee exposure to dust, heat, noise and hazardous materials; compliance with national labor standards and regulations; provision of personal protective equipment and health and safety training for employees; fire protection and emergency response; and general plant safety and housekeeping. Details of the proposed operating procedures and mitigation measures are provided in the Environmental Review Summary (ERS) for the project.
The is from the InfoShop.
Host country location of environmental documentsPinetown Municipal Library
Corner of Crompton and Old Main Road
Telephone: 031-718-2732
Date SPI sent to InfoShop April 25, 2000
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
