{"id":150999,"date":"2024-02-13T16:51:03","date_gmt":"2024-02-13T16:51:03","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/02\/13\/ghana-gas-to-acquire-cylinder-manufacturing-company-by-end-of-first-quarter\/"},"modified":"2024-02-13T16:51:03","modified_gmt":"2024-02-13T16:51:03","slug":"ghana-gas-to-acquire-cylinder-manufacturing-company-by-end-of-first-quarter","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/02\/13\/ghana-gas-to-acquire-cylinder-manufacturing-company-by-end-of-first-quarter\/","title":{"rendered":"Ghana Gas to acquire Cylinder Manufacturing Company by end of first quarter"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Ghana Gas Company is in the final stages of acquiring Ghana Cylinder Manufacturing Company Limited.<\/p>\n<p>In April 2023, President Nana Addo Dankwa Akufo-Addo approved the acquisition of the cylinder manufacturer, which has been struggling to operate for years.<\/p>\n<p>The company incurred a GH4 million loss in 2021.<\/p>\n<p>According to the Auditor General\u2019s estimation, the current financial position of the Ghana Cylinder Manufacturing Company makes it incapable of meeting its short-term obligations.<\/p>\n<p>Genevieve Sackey, Managing Director of the Ghana Cylinder Manufacturing Company Limited, disclosed the imminent acquisition at a Public Accounts Committee (PAC) sitting in Accra on Tuesday.<\/p>\n<p>\u201cWe are in the process of an acquisition. At the moment, we are in the final stages. The document is with the Ministry of Finance to be forwarded to the cabinet. So we are hoping that by the end of the first quarter, it would be acquired by Ghana Gas,\u201d she stated.<\/p>\n<p>\u00a0<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:\u00a0https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter!\u00a0<img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/01\/1f310.svg.svg+xml\" alt=\"\ud83c\udf10\"\/><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/01\/1f4f0.svg.svg+xml\" alt=\"\ud83d\udcf0\"\/>\u00a0#StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ghana Gas Company is in the final stages of acquiring Ghana Cylinder Manufacturing Company Limited. In April 2023, President Nana Addo Dankwa Akufo-Addo approved the acquisition of the cylinder manufacturer, which has been struggling to operate for years. The company incurred a GH4 million loss in 2021. According to the Auditor General\u2019s estimation, the current [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":133260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-150999","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana Gas to acquire Cylinder Manufacturing Company by end of first quarter - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/02\/13\/ghana-gas-to-acquire-cylinder-manufacturing-company-by-end-of-first-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana Gas to acquire Cylinder Manufacturing Company by end of first quarter - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ghana Gas Company is in the final stages of acquiring Ghana Cylinder Manufacturing Company Limited. In April 2023, President Nana Addo Dankwa Akufo-Addo approved the acquisition of the cylinder manufacturer, which has been struggling to operate for years. The company incurred a GH4 million loss in 2021. 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