Business News of Friday, 18 October 2024
Source: Citi News
The Ghana National Gas Company has acquired the Ghana Cylinder Manufacturing Company (GCMC) following the latter’s financial struggles, including a GH¢4 million loss in 2021.
This acquisition aims to boost GCMC’s cylinder production capacity. At a ceremony in Accra, Minister of State Herbert Krapa praised the acquisition as a milestone, crediting the President and Ghana Gas for their roles.
GCMC's Managing Director, Genevieve Sackey, highlighted that the move aligns with Ghana's efforts to transition to a low-carbon economy through sustainable production and clean energy advocacy.