NIGERIA FOOD AND NUTRITION EXPANSION

PZ Cussons today announces plans to expand its presence in the food and nutrition category in Nigeria.

A food ingredients business is being established as a joint venture with Singapore based Wilmar International Limited.

The intention is to develop a range of branded products including edible oils and nutritional spreads. The joint venture will secure the availability, quality and cost of the oil ingredients through the construction of a palm oil refinery in Nigeria, expected to be completed within two years.

PZ Cussons’ share of the investment in the joint venture will be approximately US$27m (£17m) over two years.

 

Following completion of the refinery, the joint venture is expected to be earnings enhancing in its first full year of trading.

Nutricima, the joint venture with Glanbia Plc which develops nutritional beverages for the Nigerian market, continues unaffected and independently of the new joint venture.

This article was originally posted on Nigeria Business Communities

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