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Holding Statement: Media Reports on the “Closure of Yekani Manufacturing Smart Factory in East London”

21 January 2020 For immediate release Holding Statement: Media Reports on the “Closure of Yekani Manufacturing Smart Factory in East London” Yekani Manufacturing (Pty) Ltd (“Yekani”) has noted all the media reports that have indicated that the Yekani Smart Factory located at the East London Industrial Development Zone (IDZ) – would be “closing its doors with potentially 500 skilled workers becoming unemployed”. Yekani and its Group CEO in particular – remain committed to doing everything in its power to protect…

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21 January 2020

For immediate release

Holding Statement: Media Reports on the “Closure of Yekani Manufacturing Smart Factory in East London”

Yekani Manufacturing (Pty) Ltd (“Yekani”) has noted all the media reports that have indicated that the Yekani Smart Factory located at the East London Industrial Development Zone (IDZ) – would be “closing its doors with potentially 500 skilled workers becoming unemployed”.

Yekani and its Group CEO in particular – remain committed to doing everything in its power to protect and save the jobs of its employees. It is also imperative to note that the Eastern Cape Provincial Government is not responsible for the financial issues that Yekani is experiencing currently.

The first article that was published by the Daily Dispatch on 14 January 2020 – coincided with Yekani and Standard Bank’s court appearance date – where a judgement determining the future of Yekani was going to be handed down.

The outcome of this court appearance was a postponement until 18 February 2020 – this therefore means that this matter is now sub-judice. Yekani is currently unable to provide further details or comment on any rumours around this matter as it runs the risk of prejudicing or interfering with the pending court proceedings and its outcome.

Dr Siphiwe Cele is the Group CEO of Yekani Manufacturing.

Ends.

 

For additional information or media queries, please contact:

Issued on behalf of Yekani Manufacturing by:

Miranda LusibaMD & PR Consultant: Strangé Consulting

Mobile: +27 (0) 78 675 1297

Email: miranda@strangeconsulting.co.za/ora4117@gmail.com

About: Yekani Manufacturing                                                                                   

Yekani Manufacturing (Pty) Ltd. (“Yekani”) – a 100% Black-owned electronics contract manufacturer and Information and Communication Technology (ICT) company – is an identifier of innovation opportunities and an enabler. Yekani Manufacturing and Yekani Technology are privately owned companies that form part of the Yekani Group – a holding company incorporated in 1998. These entities boast an executive management team with 30 years’ experience spanning multiple sectors.

The company is located at the East London Industrial Development Zone (IDZ) in its R1-billion-worth world-class Smart Factory – able to create new value to achieve advantage over our competitors. This technologically advanced facility is geared towards manufacturing innovative technology products for clients in the consumer, automotive, defence and aerospace industries. Yekani is about growth through commitment to its greatest strength that lies within – its biggest asset – its people

 

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