Heineken extends dominance of Nigerian brewery market with potential Champion Breweries takeover14/1/2021 Beer maker Heineken B.V. is on track to expand its control of the Nigerian brewery business, after racking up further 1,903,609,538 ordinary shares of Champion Breweries Plc in a move bringing its stake in the Uyo-based brewer to 84.7 per cent.
Heineken, headquartered in Amsterdam, Netherlands, consummated the share acquisition through its Nigerian subsidiary, Raysun Nigeria Limited, putting it in a strong position as the majority shareholder to make a takeover attempt. It will help broaden its dominance beyond Nigeria’s most capitalised beverage maker, Nigerian Breweries Plc, where Heineken wields 37.94 per cent stake via ownership of 3,034,100,563 shares. Consumers in Nigeria, Brazil and the United Kingdom – the brewer’s three biggest markets – drank 1 million hectolitres of Heineken brands in the 12 months of 2019, according to its 2019 financial results… More details through: https://www.premiumtimesng.com/business/436655-heineken-extends-dominance-of-nigerian-brewery-market-with-potential-champion-breweries-takeover.html
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Nigeria Breweries Plc has invested N5bn in a new automated PET line for packaging non-alcoholic drinks.
Speaking at the unveiling of the ultra-modern packaging line in Ijebu-Ode Brewery on Thursday, the Governor of Ogun State, Prince Dapo Abiodun, expressed belief that the investment would bring immense economic opportunities to the state. He said the expansion of the brewery would boost the Gross Domestic Product of the country. The governor expressed joy at the success of the project, saying the location of the brewery was strategic to the development of the state… More details through: https://punchng.com/nigeria-breweries-invests-n5bn-in-new-automated-line/ Three bodies, Waltersmith, United Nation Industrial Development Organization and United Nations Economic Commission for Africa have signed a technical support agreement with respect to the development of an Industrial Park by Waltersmith, the first of its kind in Nigeria, which will attract petrochemical, pharmaceutical, research and other light manufacturing companies that feed off the hydrocarbon value chain.
The industrial park is being developed with the support of the UNIDO and UNECA as part of Nigeria’s country programme with the Ministry of Industry, Trade and Investment. “This signing ceremony essentially flags off the industrial park development and we are excited about the technical support UNIDO and UNECA are willing to provide to Waltersmith as this will help us attract several companies to the park area. Our goal is to create an industrial cluster in Ibigwe and help reduce manufacturing costs, position the South- Eastern region as a major manufacturing hub and take advantage of the African Continental Free Trade Agreement which the Nigerian government has currently signed on,” said Abdulrazaq Isa, Chairman Waltersmith Group… More details through: https://www.newtelegraphng.com/un-bodies-partner-firm-on-industrial-park-in-nigeria/ The manufacturing sector’s Purchasing Managers Index (PMI) in the month of November stood at 50.2 index points, inidcating a growth from the October figure of 49.4 per cent. This was disclosed by the Central Bank of Nigeria (CBN) in its October PMI report released on Wednesday.
According to the report, eight sub-sectors out of 14 sub-sectors surveyed, reported expansion (above 50 per cent threshold) in the month under review. It listed the sub-sectors that expanded as transportation equipment, nonmetallic mineral products, furniture & related products, cement, textile, apparel, leather & footwear, plastics & rubber products, food, beverage & tobacco products, and printing & related support activities… More details through: https://www.premiumtimesng.com/business/business-news/426761-nigerias-manufacturing-sector-records-growth.html The Dangote Group said its two billion-dollar granulated urea fertiliser plant located at Ibeju Lekki, Lagos will begin operation before the end of December. Anthony Chiejina, Group Head, Corporate Communications, Dangote Group, confirmed the development to the News Agency of Nigeria (NAN) on Wednesday in Lagos.
More details through: https://www.premiumtimesng.com/business/business-news/424575-dangote-fertiliser-plant-to-begin-operation-december-official.html The total profit made by cement marketing companies in the country in the first nine months of the year amounted to N81.6bn. This is in contrast to N63.7bn the firms gained in the same period in 2019.
The cement manufacturing companies, Lafarge Africa Plc and BUA Cement Plc, saw their profits for the period ended September 30 swell by N17.9bn to N81.6bn from N63.7bn in the first nine months of 2019… More details through: https://punchng.com/cement-firms-grow-profits-by-28-1-in-nine-months/ Nigeria imported manufactured goods worth $7.32bn (N2.78tn) while the total export component was N254.2bn between April and June.
According to figures obtained from the National Bureau of Statistics on foreign trade statistics for the second quarter, this amounted to a difference of N2.52tn in the period under review. According to the NBS, N757.99bn, N885.98bn and N1.14tn manufactured goods were imported in April, May and June respectively. It also revealed that N137.06bn, N82.07bn and N35.03bn were exported in April, May and June respectively… More details through: https://punchng.com/nigeria-imported-n2-78tn-manufactured-goods-in-three-months-nbs/ The October Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 49.4 index points, indicating a reversal of five consecutive months of contraction which started in May.
This is according to the result of PMI survey released by the Statistics Department of Central Bank of Nigeria (CBN) on Tuesday. The News Agency of Nigeria (NAN) reports that the manufacturing PMI for the month of September was 46.9 index points. The survey revealed that of the 14 subsectors surveyed, six recorded expansion above 50 per cent threshold… More details through: https://www.sunnewsonline.com/pmi-nigerias-manufacturing-sector-records-growth-says-cbn/ The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, last weekend said Nigeria may end steel importation soon when a $1.5 billion steel plant being built by African Natural Resources and Mines Limited at Jere in Kaduna State comes on stream. The firm has one million metric tonnes (MT) capacity of daily production.
The minister who inspected the plant along with the management of the company, further noted that Nigeria was on the path of industrialization which will be yielding results five years from now. “Producing one million metric tonnes of steel per annum means that Nigeria will really be well on its way of being independent of importing steel into our country and this will attract other investors,” Zainab said… More details through: https://dailytrust.com/minister-hopeful-1-5bn-kaduna-plant-will-end-steel-imports Hope rises for the moribund Ajaokuta Steel company, as Olamilekan Adegbite, the Minister of Mines and Steel Development says a 60-man team from Russia will soon arrive in Nigeria to start a Technical Audit of Ajaokuta steel. Adegbite disclosed this to the News Agency of Nigeria (NAN), in Abuja…
More details through: https://businessday.ng/business-economy/article/nigeria-government-turns-to-60-russian-experts-to-revive-ajaokuta-steel/ |
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