Artmetal, a subsidiary of Wide Business Private Limited Company, is expanding and trying to fill a gap in the construction industry by moving from selling and buying iron to producing machine tools.
Seid Hassen, General Manager of Wide Business Private Limited Company, says that even though the construction industry is booming and many players are involved, they saw a gap in both machine tools and local ferric finished products.
Importing machine tools costs much more than importing iron, which is what Artmetal was previously doing.
Located at Alem Gena town in the outskirts of Addis Ababa, Artmetal supply and ferric belt processing and engineering factory’s expansion cost 18 million birr.
Artmetal cost 3.5 million birr to establish and employs 40 people permanently and 30 temporarily. Now that number is expected to increase as it has the capacity to manufacture 600 cubic meters of ferric products every month.
The other companies under Wide’s wings are Ferric belt processing and engineering factory, Hast Enterprise and the newly formed Bura Agro Integrated Company.
Hast Enterprise expanded to the tune of 10 million birr they believe this will help them achieve their goal of 100 million birr in sales during this Ethiopian fiscal year. Burra Agro recently purchased 1,550hct of land to farm in the Southern Nations, Nationalities and People’s Regional states (SNNPRs) in Sidama Zone.
Wide Business Private Limited Company, the parent company of the four enterprises currently has about 110 permanent and 130 temporary employees under its belt with a total capital of 35 million birr.