Johncom acquires Compact Disc Technologies
"The purchase of the remaining 40% of CDT will prove key across the entire Johncom group, notably for businesses that manufacture DVDs and CDs, Nu Metro Home Entertainment and Gallo Music respectively," Johncom Deputy Group CEO Prakash Desai said in a statement.
"We are excited about the outlook on DVD as a format, which forecasts a positive trend globally of growing unit numbers for the coming years."
Johncom has already invested 5.6 million rand in CDT’s CD manufacturing lines within the past financial year. The group has also committed to a new DVD line, which will be operational by end August, requiring capital of 9.2 million rand.
This year alone, an impressive number of 32-million units have been handled through the CDT plant. Revenue for the year to March 2007 is forecast at 177 million, the company said.
Within the 2006 financial year, Warner Music International (WMI) and Johncom joined forces to create Warner Music Gallo Africa (WMGA), a new music-based content company in South Africa. More recently, Johncom acquired a majority share (80%) in Ochre Media through its subsidiary, Johncom Media Investments.
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