Ariston Holdings Limited is set to increase macadamia production, following major investments into the segment. During the year to September 30, 2021, the firms macadamia production volume grew by 27 percent to 1 292 tons. They are expected to increase going forward, spurred by increased investments.
In the past year, Ariston disposed of 50 percent of its shareholding in Claremont Orchards Holdings(Private) Limited for USS2 million to Tuinbouw Zonder Grenzen, a company registered in the Netherlands.
According to Chairman Alexander Jongwe, part of the rationale for this transaction was to raise funding for further investment into macadamia nut orchards in Chipinge and Chimanimani. "With receipt of the sale of shares proceeds, the group will be planting additional orchards of macadamia nuts under irrigation as well as improvement in mechanisation of farm processes," said Mr Jongwe.
Source: herald.co.zw
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