Aluworks To Bounce Back On GSE

Managing Director of Aluworks says the company is implementing strategies to ensure that it bounces back strongly on the market.

Kwasi Okoh said “The GSE will not delist us, I’m not only hopeful of a come-back but we are coming with a bang. We have begun strategies to turn the fortunes of the company and I can tell you, we use to be the darling boy of the stock exchange, we will be back to our formal status.”

He has also been responding to the issue of inferior goods that find their way into the Ghanaian market.

“The cheap items on their way into the market but with the cost then they want to blame Aluworks but we reject them every time,” he said.

According to Mr Okoh, the fortunes of the company can be blamed on the unfair trade practices by some aluminium manufacturing companies and the use of Ghana as a dumping ground for some product that can be manufactured by the company.

“How can Aluworks perform when people are bringing in cheap import from China and all over the place? Ghanaians like cheap products, Aluworks is surviving because there are some people who still believe in high quality” Mr Okoh said.

The Ghana Stock Exchange has given Aluworks up to the end of May this year to come up with strategies to transform and improve its financial performance or risk being delisted from the stock exchange.

The threat follows the poor performance of the company and other listed entities on the Ghanaian bourse.

According to the Managers of the GSE, failure to implement strategies to turn around the company will result in sanctions.