Honeywell Invests in 140,000 tons New Pasta Plants

Business News

By Gilbert Ekugbe

 

“OUR new state-of-the-art pasta plant at Sagamu, Ogun State , when completed will consist of four pasta lines with an annual capacity of about 140,000 metric tonnes per annum making it one of the most sophisticated pasta plants in Sub-Saharan Africa.”

These were words of Lanre Jaiyeola, Managing Director, Honeywell Flour Mills Plc, during the company’s annual customer forum and awards held in Lagos.

Jaiyeola saluted the unwavering support and loyalty of its customers for standing with the company through thick and thin during the recession.

“The recession period is over and like any other business we were also affected, but because we have a very formidable team and a very strong board, we were able to identify those key areas of the business that can help us position our business on trajectory of growth and sustainability,” he said.

He, however, explained that despite many challenges that faced the manufacturing sector in 2017 which ranged from the high exchange rate; scarcity of dollars to rising cost of wheat and high cost of borrowing in the country, the company was able to survive, maintaining that it has evolved to achieve more growth in 2018.

According to him, the Board and Management have adopted a new master brand to unify all  the company’s product category to better meet the needs of all stakeholders while also repositioning the firm for the future.

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