Glodina Towelling gets R150m IDC injection

IDC media statement

The Industrial Development Corporation (IDC) has launched Glodina Towelling (Pty) Ltd, a leading manufacturer of superior quality towels, with a long history as a preferred supplier to the hospitality industry and national retailers. Glodina is one of the successful businesses in Kwa-Zulu Natal that have been supported by the IDC recently, and has created much-needed jobs while continuing to contribute to the local economy.

Glodina Towells screenshot, KZN

IDC has invested R150 million in Glodina to help the business acquire assets, have working capital, and source raw materials. IDC CEO, Mr. Geoffrey Qhena, said the growth and operational success of the business is expected to have a positive impact on the creation of employment in the province, “Now that the factory is open, our projection is that more than 200 people will be employed at the Glodina plant over the next three to four months, as the company continues to increase its production capacity to reclaim its esteemed position in the market,” he said.

“IDC’s investment in Glodina was motivated by the business’ position as a recognised supplier of towels to the local retail and hospitality sectors, and its significant prospects of job creation and growth. We continue to support businesses which manufacture locally, especially those like Glodina, which has set a standard through production of their high quality and strong brands,” Qhena added.

Kwa-Zulu Natal MEC for Economic Development, Tourism and Environmental Affairs, Mr. Sihle Zikalala, cut the ribbon during the launch event held at the company’s premises in Hammarsdale. The business’ production plan will see priority being given to the manufacturing of the Glodina Marathon towel range, which has been designed for the hospitality industry. The Marathon brand has a long history of being the towel of choice in hotels throughout Africa, and despite strong competition from outside South Africa, demand for the products is still high.