BUSINESS NEWS: Smarting from the conclusion of its merger with Consolidated Breweries, the management of Nigerian Breweries Plc. this month paid an official visit to the Nigerian Stock Exchange to reassure investors and other stakeholders of its commitment to enhance operational efficiencies and maximize value for all investors of the enlarged company.
A report monitored in ionigeria.com says the Chairman of the company, Chief Kola Jamodu, CFR who led the team, said they were at the Exchange to formally introduce the enlarged company management to the Nigerian Stock Exchange and the investing public.
The new Nigerian Breweries Plc has 11 breweries strategically spread across the nation, two malting plants and 19 brands including the lagers, Heineken, Star, Gulder, ‘33’ Export, Goldberg, More and Life; The Stouts- Legend Extra stout, Turbo King and Williams Dark Ale.
The non-alcoholic malt drinks; Maltina, Amstel Malta, Malta Gold, Hi Malt, and Maltex. Other brands in the company portfolio are; – Fayrouz, Breezers, Ace Passion and Climax Energy drink.
Continuing, Chief Jamodu, restated the company’s resolve to increase wealth for shareholders and other stakeholders.
“This is expected to be achieved through major cost savings in the areas of interest expenses, distribution/administrative cost among other operating activities where duplication will be eliminated. Expenses such as annual general meetings, board of directors’ fees and communication expenses to shareholders will be reduced,”.
Other major benefits accruable from the merger include cost saving from the consolidation of supply and distribution networks of both companies as a result of improved operational efficiencies arising from integrated operations.
The products of both companies will be manufactured more efficiently through their combined operational capacities.