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NASCON Allied Industries Explains New Name

…To Reflect New Range Of Products
Management Of NASCON Allied Industries Offers Explanation On Adoption Of Its New Name.

Management of NASCON Allied Industries last week explained that the adoption of its new name is to reflect current investments and new operational status of the company as a manufacturer of other related consumer and daily need products apart from salt.

Chairman of the company, Alhaji Aliko Dangote, in his speech at the annual general meeting of NASCON Allied Industries for the financial year ended December 31, 2014 held in Lagos, recently, informed shareholders that the new name had received the approval of the Corporate Affairs Commission.

The chairman dwelling on milestones in the year under review said, ‘as promised at the 2013 annual general meeting, I am happy to announce that our company has already launched the DANG Seasoning in year 2014 and it is heartwarming that the product is acceptable in the market.Efforts are also in top gear to ensure that other new products, tomato paste and vegetable oil are completed as soon as possible and launched for entry into the respective markets.

The technical hitches militating against the early completion of the two new projects have been surmounted’. He added, ‘we have almost completed the installation of our vegetable oil refinery and the tomato packing machines at our site in Ota.

These products when fully introduced into the market will make us a frontline food business in Nigeria’. Shareholders at the meeting applauded these strategic steps saying it will translate into increasing returns. A shareholder, Kazeem Olayiwola described the new investments as heartwarming and will translate into more values for stakeholders.

He charged the management of NASCON especially the marketing division to be more innovative as to drive more sales of the several range of products now available within the company. He specifically tasked the management to pay more attention to staff training and incentives as these are essential to drive productivity.

Another shareholder, Sotunde Sopeju also commended the management for turning around the fortunes of NASCON which has now gone beyond salt refining. He said that NASCON has done well in paying of dividends adding that most of the banks are unable to pay dividends.

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