Long-standing EC Company empowers employees by making them shareholders
In a boost for 80 Nelson Mandela Bay families, one of the Eastern Cape’s longest-standing companies has finalised an empowerment deal with the Industrial Development Corporation (IDC) – to the benefit of its 80-strong labour force which now ranks as a shareholder.
Thanks to the restructuring deal, Rhino Manufacturing – formerly known as Rhino Plastics which was launched 50 years ago – is now a B-BBEE Level 2 company. Since the new deal was signed late last year, business has taken off, making strides in the plastics recycling and manufacturing sector while strengthening its lead in the supply of plastic products to the construction, agricultural and the packaging sector nationally and into Africa.
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