Berger Paints Nigeria Plc.(“the Company’’), manufacturers of decorative and industrial paints, marine and protective coatings, automotive/vehicle refinishes and allied products has notified the Nigerian Stock Exchange (NSE) of its plans of outsourcing depots and appointment of franchisees.
Here is what the company said;
As part of its strategy to enhance accessibility and visibility of its products, Berger Paints has embarked on the outsourcing of all its depots. It thereafter intends to appoint franchisees in various other locations of the country where the Company does not have a presence. This strategic move serves to enhance the efficiency of the Company and improve its bottom line. In addition, it will enhance proximity of its products and help to ensure the availability of genuine Berger Paints products countrywide.
On a related note, the Company’s plans to build the first automated paint manufacturing plant in the Sub-Sahara Africa are ongoing and the plant has been scheduled for commissioning in 2016.
The Company’s share price was N9.01 as at press time.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.
9jabook