Business a.m.
BUA Foods Plc, one of Nigeria’s leading food manufacturing companies, has signed an agreement with IMAS, a prominent Turkish flour milling equipment manufacturer. Under the agreement, four state-of-the-art wheat and flour milling factories are expected to be built, with a combined milling capacity of 3200 tonnes per day.
BUA Foods’ foray into new markets since its listing on the Nigerian Exchange (NGX) has been bolstered by this strategic move, which is set to revolutionise its manufacturing capabilities. With the establishment of these factories, the company is poised to expand its production capacity and deliver a wider range of high-quality products, contributing to the country’s efforts in addressing food insecurity and malnutrition in the country.
The signing of the agreement, attended by top executives from both BUA Foods and IMAS, signals the company’s commitment to boosting its growth trajectory and expanding its production capacity across all divisions.
Speaking at the signing ceremony, Abdul Samad Rabiu, Chairman, BUA Foods Plc, said, “This partnership with IMAS is a testament to our dedication to improving food security in Nigeria. These new factories will significantly boost our capacity to continue to produce high-quality flour products while helping to create additional job opportunities across the country.”
“This investment is a step towards our target of increasing our share of the Nigerian flour market. The addition of four mills will enable us to produce high quality flour thereby offering us the flexibility to address various potential flour needs.”
Also commenting, the representative from IMAS said “We at IMAS are happy to again contribute to BUA Foods expansion drive aimed at ensuring that more people in Africa have access to affordable and healthy food.”
