Printability

completed

Summary Of Project Information (SPI)Project NameSouth Africa - PrintabilityRegionSub-Saharan AfricaSectorProject No10141Projected Board DateMay 25, 2000Company NamePrintability (Pty.) Ltd.Technical Partner and/or Major ShareholdersThe sponsors of the project are the major shareholders of Printability (Pty.) Ltd., a printing company which will be established in Durban, South Africa. The major shareholders are Mr. Doug Heger (the managing director) and Mr. James Elliot (the technical director) who together will own 42% of the shares. Independent Newspapers, part of Independent PLC, a major global communications and media company will own 8% of the shares. Project Cost Including proposed IFC investmentThe total project cost is R185 million (US$28.5 million equivalent). IFC proposes an investment of R15.0 million (US$2.31 equivalent) in equity. Location of project and Description of siteThe project will be located in Durban, South Africa. Description of Company and Purpose of ProjectThe project involves the establishment of a medium sized printing company that will produce high quality color printing using the latest technology web and sheet fed presses. The company will target the fine printing sector and will print color magazines and color advertising inserts. Latest technology web and sheet presses allow for increased printing speed, increased efficiency and reduced turn round times, critical to meet customer''s requirements of deadlines and flexibility. IFC is playing a development role in the project by providing equity for the start-up venture and by encouraging the import of technology to improve the capability of the printing industry in South Africa. Environmental Category and Issues This is a Category B project according to IFC''s environmental review procedure. The key environmental health and safety issues that were analyzed include source of water and power supply, including fuel storage if applicable; emissions of volatile organic compounds and other airborne contaminants; workplace air quality; recycling, treatment and disposal of solid wastes; recycling, treatment and disposal of liquid processing wastes and sewage; handling and storage of potentially hazardous materials; employee exposure to dust, heat, noise and hazardous materials; compliance with national labor standards and regulations; provision of personal protective equipment and health and safety training for employees; fire protection and emergency response; and general plant safety and housekeeping. Details of the proposed operating procedures and mitigation measures are provided in the Environmental Review Summary (ERS) for the project.The is from the InfoShop.Host country location of environmental documentsPinetown Municipal LibraryCorner of Crompton and Old Main RoadTelephone: 031-718-2732Date SPI sent to InfoShop April 25, 2000“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).