NATIONAL NEWS - JSE-listed automotive component manufacturer Metair Investments is confident a business opportunity it has secured that will create 3 200 new jobs, most of them in South Africa, will still materialise and has not been destroyed by the coronavirus.
“We don’t believe the opportunity has gone away because of the crisis. It might be delayed a bit but it’s definitely not gone away,” said Metair CEO Theo Loock on Monday.
Loock added that any delay was not only in Metair’s hands because it is a customer project but they would prefer to enter into these capital-intensive projects in a period of stability.
He said these projects are not necessarily linked that much to market demand issues because they involved planned new product launches, but their preference is for a delay of three to six months.
Loock said 80% of Metair’s almost 7 000 employees worldwide are in SA and this opportunity will grow that 80% by 3 200 employees.
Apart from SA, Metair has operations in the UK, Germany, Kenya, Romania and Turkey.
Full article and live interview here on the Caxton publication, Moneyweb
