Business News of Tuesday, 26 January 2016

Source: starrfmonline.com

Cocoa Processing Company shuts down

Cocoa Processing Company Cocoa Processing Company

The Cocoa Processing Company (CPC) Limited has in the interim shut down two of its two cocoa processing plants due to operational challenges.

Staff members have since been directed by the management of the company to stay at home as part of their annual leave with effect from January 25, 2016 while the factory remains shut.

“Due to operational challenges, management has decided to temporarily shut down the two [2] Cocoa Factories from Monday 25 January, 2016, until further notice.

“Management has therefore decided that staff of the Cocoa Factories should stay at home as part of their annual leave with effect from 25 January 2016, while the factories remain on shut down,” a memo addressed to staff members revealed.

This is not the first time the company has been shut down. In the 2011/2012 operational year, the company shut down for a while due to interruptions in water and electricity supply which continued to pose huge challenges to its operations.

The Cocoa Processing Company is a Ghanaian cocoa processing company formed in 1981. They are listed on the stock index of the Ghana Stock Exchange.

Its chocolate varieties include Tetteh Quarshie Bar, Kingsbite, Oranco bar, Akuafo Bar, Portem Pride, Portem Nut, Coffeechoc, Choco-Bake, Choco Delight (chocolate spread), Groundnut Coated with Chocolate (Pebbles (Chocolate dragees)) and Royal Natural Cocoa Powder.