Cummins eyes US$1billion dollar potential market in West Africa
Cummins a global power leader servicing a number of sectors across Nigeria including business ,offshore marine, mining and petroleum, has said it eyes West Africa as an important business centre , with a potential market of close to US$ 1 billion, as it also aims to increase sales to US$ 200 million by 2016 in Nigeria.
Tom Linebarger, President and Chief Operating Officer of Cummins, Inc, together with senior executives made this known when they visited customers and partners in Nigeria this week. Nigeria is one of four stops on a pan-African tour that includes Senegal, Ghana and South Africa.
According to Linebarger, the purpose of the tour is to oversee progress of the company’s Africa strategy.
Cummins operating in Nigeria as Cummins West Africa Limited (a Leventis Group member) is working closely with A.G. Leventis (Nigeria) plc to ensure that it makes a difference to the communities in which it operates.
Linebarger went on to say, "Cummins is working to progress our Africa strategy in Nigeria, helping to transform potential into opportunity for the businesses and communities we serve," s. "We have a proud heritage in this country and across Africa, and this visit demonstrates a new phase in our commitment. Nigeria and West Africa hold significant promise as a market for Cummins and we aim to be leaders by delivering products and services tailored specifically to the unique needs of this country and region."
The four senior executives and two Cummins Board members are visiting Nigeria before going on to South Africa. Joining Mr Linebarger are President - Cummins Distribution Pamela Carter; President - Cummins Power Generation Tony Satterthwaite; Executive Director - Cummins Africa Brady Southwick; and Directors Carl Ware and Dr Franklin Chang-Diaz.
The ceo of Cummins further said, West Africa is an important business centre for Cummins, with a potential market of close to US$ 1 billion. Nigeria is one of the fastest growing economies in the world and Cummins is focused on building its power generation business in a number of sectors, including business, offshore marine, mining and petroleum. Focused efforts will be directed toward the provision of unparalleled customer service and back-up support for new and existing customers.
Cummins operates 25 facilities in Africa, has more than 1,000 employees and annual sales of approximately US$264 million. Key markets are expanding, with power generation expected to grow to US$6 billion, mining to US$1 billion and filtration to US$500 million by 2020.
Cummins is committed to help drive and share in this growth across Africa with a vision of achieving over US$2 billion in sales and leading market share positions by 2020.
"With more than half our revenue currently generated outside our home market in the US, Cummins understands the mutual value of a global company partnering with local talent and engaging in local communities," said Linebarger. "Drawing on our experience of building strong businesses in countries such as Brazil, China and India, our Africa strategy is a tangible expression of our commitment to bring training and skills to the Nigerian and West African workforce."
Cummins works with A. G. Leventis (Nigeria) Plc to ensure that it makes a difference to the communities in which it operates. The company is in the process of rolling out corporate responsibility (CR) programmes that are aligned with the global Cummins focus on education, the environment and social justice. Internally the company is investing in developing staff skills and raising awareness around safety in the workplace through education, implementing controlled processes and by improving the standards in service and maintenance.
The executives are meeting with key stakeholders and customers, with the ultimate aim of ensuring that Cummins will be able to take advantage of local opportunities, improve customer service and enhance understanding of local business practices and challenges.
This article was originally posted on Sustainable Development Africa Platform
Are you interested in Market Research, Recruitment and Business Leads?
Join the Africa Business Panel, powered by Africa Business Communities.
www.africabusinesspanel.com.