URL unbundles. . . Now a holding company with eight new subsidiaries
BULAWAYO-headquartered giant agro-processing company, United Refineries Limited (URL), has unbundled its operations into new subsidiaries and restructured its profile and logo to position the business for enhanced viability and future sustainability.
Now a holding company with a diversity of product portfolio units for wider market segments, the company’s transformation dovetails with the drive to boost re-industrialisation of Bulawayo and the rest of the country anchored on value addition and beneficiation.
In the past URL mainly focused on cooking oil production, with key ingredients being soya bean and cotton seed.
It later added mealie-meal under the “Unity” brand to add into the product basket that also includes washing bar and bath soaps.
In an update announcing the new developments, URL group chief executive officer, Mr Busisa Moyo, said the unbundling of the company has created eight new subsidiaries with focus on different brands, which fall under URL group.
“United Refineries Limited Group has unbundled resulting in the change in the company name, company logo and organisational structure as it is now a holding company with eight new subsidiaries,” he said.
“The new logo is in green and gold. The U in green speaks of our foundation and roots as an agro-processor. It’s a solid foundation that has withstood many storms hence today we still stand.
“The R in gold represents wealth, wealth of ideas, human capital and success, more so it speaks of our push for value addition,” said Mr Moyo.
“The unbundling resulted in eight new subsidiaries, which are UR Foods, UR Soft Oils, UR Soaps, UR Packaging, UR North Properties, UR Manufacturing, UR Feeds and UR Agriventures.”
Mr Moyo said the unveiling of this new structure by URL is coming at a time when the organisation has just unleashed new products into the market such as fortified mealie-meal, packaged rice and stock feed as it expands its domestic and export footprint in line with the value addition thrust.
He said the new holding structure will also provide greater opportunities for growth and innovation as each subsidiary will have autonomy to pursue new opportunities and partnerships.
“We are confident that this restructuring will provide benefits to all stakeholders, including our customers, employees and shareholders. We are because you are,” said Mr Moyo.
Meanwhile, the company is also embracing green initiatives, which are meant to protect the environment through reduction of plastic waste.
This has seen URLs introducing cooking oil dispensers at different retail outlets, which will allow consumers to use containers they already have to refill.
The initiative is also meant to promote affordability of the product as this will reduce cost of packaging.
URL is one of the old companies that have withstood the test of time in Bulawayo and continues to be a shining example of resilience as it not only supplies critical products but is one of the biggest employers. –-chroncile
