Naspers to spend R140m on new plant
December 9, 2004
By Gugulakhe Masango
Media and broadcasting group Naspers is to spend R140 million on a new commercial and magazine plant in Gauteng. It is expected to be operational by mid-2005.
Media24, the magazine and newspaper division of Naspers, said yesterday that the new plant in its first phase was expected to create about 70 direct jobs.
The construction of the new plant has already started, and printing presses have been ordered.
Lambert Retief, the chief executive of Paarl Media, Media24`s magazine and commercial printing division, said the new 72-page publication gravure press at Paarl Gravure in Cape Town had added substantial capacity to the group. The Johannesburg operation would create surplus capacity.
Media24 controls more than 60 percent of the country`s total magazine circulation with more than 30 magazine titles, including Drum, You, True Love, Fairlady, Golf Digest, FHM, Kick Off Nigeria, Kick Off and Men`s Health.
True Love and Drum have been launched in Kenya, and earlier this month True Love hit Nigeria. - Gugulakhe Masango, Johannesburg
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