Tag Archives: Promasidor Nigeria Limited

Promasidor Nigeria names Einarsson as new Managing Director

Promasidor Nigeria Limited announced on Tuesday the appointment of Mr. Anders Einarsson as its new Managing Director, taking over from Mr. Olivier Thiry, who has now been moved up to the chief executive officer position.

A statement from the company, said that until his elevation, Einarsson served the organization diligently as chief operating officer (COO). He joined PNG in 2013 as Strategy Director and was later promoted to the Finance Director position.

Promasidor supports government, private sector partnership to ensure a healthy environment

Dairy firm Promasidor Nigeria Limited, said that there needs to be a partnership between government and the private sector in order to achieve a healthy environment free from pollution.

The Head, Legal and Public Relations, Promasidor Nigeria Limietd, Mr. Andrew Enahoro disclosed this during an interview in Lagos recently. He said that maintaining a healthy environment was very important for any business to grow, adding that for this to take place, there needs to be compliance with laws governing environmental regulation.

Promasidor Nigeria holds Distributors Forum in South Africa

Promasidor Nigeria Limited, makers of Cowbell and Loya milk, among others recently held its Distributors Forum in South Africa, and its Nigerian distributors were flown to Cape Town for the event dubbed – ‘Promasidor Distributors Forum’.

CBN allocates manufacturers $660m FX to ease pressure

The Central Bank of Nigeria (CBN), said it has allocated 1,342 manufacturing and trading firms foreign exchange through its recent intervention.

The apex bank said it sold a total of $660m to the firms through FX forwards to their respective banks for onward sales to the firms.

Ajinomoto buys stake in Promasidor for $532 million

Japanese food and ingredient manufacturer, Ajinomoto has agreed to buy a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen).

The stake gives Ajinomoto access to Promasidor’s distribution network in 36 African countries. The deal values Promasidor at about $1.6bn.

Ajinomoto seeks to attract Africa’s growing middle class consumers to its products. The company sees rising demand for low-priced foods and daily essentials on the continent.

IFC to invest $25m (N8bn) in Promasidor to modernize plant

Promasidor Nigeria Limited, makers of Cowbell milk, Onga seasoning, Loya milk and Top tea has finalized arrangements with the International Finance Corporation (IFC), a member of the World Bank Group, to obtain a $25m loan (over N8bn) which would be used to expand production and improve efficiency at the company’s Lagos plant.

Promasidor Nigeria seeks $25m loan from IFC to modernize plant

Promasidor Nigeria Limited, makers of Cowbell, Loya and Miksi powdered milk, among others has applied for a $25m loan from the International Finance Corporation (IFC), a member of the World Bank Group to upgrade its Lagos plant, which would start operation in 2017.

Promasidor unveils two new infant baby formulas at Breastfeeding Symposium

Promasidor Nigeria Limited, maker of Cowbell milk among other products has introduced two new infant milk formulas to the Nigerian market – Cowbell Tina 1 and Cowbell Tina 2.

The products were unveiled at a Breastfeeding symposium organized by the company and titled “The Nutrition Wisdom of Infant Feeding Choices”. The event was held at the Civic Centre, Victoria Island, Lagos.