JOHANNESBURG - Packaging manufacturer Mpact has become the latest casualty of South Africa’s struggling manufacturing sector.
The JSE-listed group has issued retrenchment notices affecting about 400 workers, citing a surge in cheaper imports.
Mpact revealed that it can no longer compete with low priced carton board imports which have rapidly taken over the local market.
The company is considering mothballing its Spring Mill operated by Mpact subsidiary to Mpact Operations.
The facility employs about 377 people and is South Africa's only carton board producer.
The Mill is expected to seize operations in March