Monthly Archives: December 2018

Frigoglass to invest €25 – €30 million to enhance capacity in its Nigerian Glass Operations

Frigoglass, the Greek refrigerator and glass bottle manufacturer announced on Thursday that it will invest €25-30 million to expand furnace capacity at its Beta Glass Guinea plant, located in Agbara, Ogun state in Nigeria.

The investment will increase capacity at the plant by 35,000 tons per year.

Nigerian Breweries to appeal Court ruling on Amstel Malta wrongful use of “low sugar” claim – Counsel

Nigerian Breweries Plc, has said it will appeal a recent ruling by an Edo High Court in the case of Prof. Ernest Izevbigie vs Nigerian Breweries Plc. The court had ordered Nigerian Breweries to apologise to one of its customers, Mr Izevbigie, who had brought a suit against the company for allegedly wrongfully inscribing “low sugar” on one of its brands, Amstel Malta.

The former Vice Chancellor at the Benson Idahosa University and Professor of Biochemistry had claimed through lab test results that the said malt drink contained far more sugar content than the company was willing to admit and thus was misleading to the public to have the inscription “low sugar”.

AB InBev suffers Moody’s credit rating downgrade as it struggles to pare down huge debt

Anheuser-Busch InBev’s credit rating has been slashed to the lowest tier of investment-grade, according to Moody’s Investors Service, which warned that the company is struggling to reduce its $100bn debt load.

The credit rating firm said it lowered the brewer’s Senior Unsecured debt ratings to Baa1 from A3, putting the company three levels away from junk rating, Moody’s said on Monday.

PZ Cussons issues low profit warning ahead of release of first-half results

PZ Cussons Plc, the British maker of a wide range of consumer goods and parent company of PZ Cussons Nigeria Plc, issued a profit warning on Thursday ahead of the release of its half-year results in January for period ending 30th November, 2018.

Guinness Nigeria outlines strategy for growth

Guinness Nigeria Plc said it has adopted a strategy to broaden its portfolio base to enable it serve a wider range of consumers both from price and segment point of view as it awaits a full recovery of the economy.

In a wide ranging interview with FEYISAYO POPOOLA of the Punch Newspapers, the Managing Director/Chief Executive Officer of Guinness Nigeria Plc, Mr Baker Magunda, said that the economic recovery has been very fragile. He lists some of the challenges manufacturers still face.

Former VC wins suit against NB over wrongful use of “low sugar” claim

A High Court in Benin City, Edo State on Wednesday, instructed the Nigerian Breweries Plc (“NB”) to tender an unreserved apology to one of its customers, Prof. Ernest Izevbigie, for wrongful inscription of “low sugar” on its product.

Mr Izevbigie, a professor of Biochemistry at the Benson Idahosa University (BIU), had alleged that the company inscribed misleading information, “low sugar” on the can of one of its non-alcoholic beverages, Amstel Malta.

He alleged in his suit that laboratory test result revealed that the product contained more sugar than the company claimed in the inscription on the brand.

Promasidor Nigeria introduces SunVita RTD Cereal to the market

Promasidor Nigeria Limited, makers of a wide range of dairy products and other consumer goods, such as Cowbell Milk, Loya Milk, Miksi Milk and other quality brands has launched its latest addition into the market called Sun Vita Cereal, a zip-lock packaged ready-to-go cereal.

Coca-Cola, NBC shine at 2018 SERAS Awards

Coca-Cola Nigeria Ltd and its sister company, the Nigerian Bottling Company Ltd (NBC) have emerged winners at the 12th Annual Sustainability, Enterprise Responsibility (SERAS) Awards. Coca-Cola won the best company in the Good Health and Well-being Category.

The company was recognised for its Safe Birth Initiative (SBI), aimed at tackling the high rate of maternal and newborn deaths in Nigeria.

FIIRO develops technology to commercially extract Thaumatin, a natural sweetener

The Federal Institute of Industrial Research (FIIRO), Oshodi, Lagos, said it has developed a technology that can aid in the commercial extraction and optimization of high-grade Thaumatin, a low-calorie sweetener and flavor modifier.

The Director-General of FIIRO, Gloria Elemo, made this known at the International Conference on Alternative Sweeteners which held in Lagos recently,themed: “Harnessing of the Economic Potential of Thaumatin (Thaumatococcus danielli) in Africa”.

Coca-Cola Chairman Muhtah Kent to step down in April 2019

Muhtar Kent, the long-serving former CEO and current Chairman of the Coca-Cola Company will step down from his role in April 2019 after 41 years of illustrious service to the company.

James Quincey, the current president & CEO will add chairman to his job title while giving up the title of president following the company’s annual meeting in April 2019. Brian Smith, who was previously announced, will become the President & Chief Operating Officer of the company on 1st January 2019.