THE BOTTOM LINE
Mr Towell wants a word with you about his firm, Twinsaver
Tissue and toilet paper manufacturer is cleaning up
Twinsaver Group has just unveiled its revamped tissue manufacturing facility near Vereeniging. It’s always good to see companies take advantage of the Department of Trade and Industry’s 12i tax allowance incentives for greenfield and brownfield development.
In the case of Twinsaver it is a brownfield investment – an expansion of a paper and tissue manufacturing site that has been used for nearly 100 years. The group installed a new R500-million tissue production machine that has annual output of more than 25,000 tons of the things that people wipe their, er, noses with.Twinsaver Group CEO Garth Towell says demand for this product is booming – at 20% growth a year in SA. The new machine is state-of-the-art technology from Italy, so one can mop up in Continental style, while also – broadly speaking – saving energy.
Twinsaver is a fairly recent acquisition of what was formerly known as Nampak Tissue by the Ethos Private Equity Group. The increased capacity in Vereeniging will enable Twinsaver to pursue new markets in neighbouring countries, and makes the group the largest manufacturer of tissue in sub-Saharan Africa.
Twinsaver has employed lots of engineers to run the new facility. Investments under the 12i tax incentive include a training allowance and investment allowance of 55% of qualifying assets – or a maximum of R550-million investment allowance – in the case of any brownfield project with preferred status.