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NBC unfolds restructuring plan

Category: Daily & Weekly Market Updates


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NBC unfolds restructuring plan

July 05, 2005/guardian


 

 

 

Nigerian Bottling Company Plc, the sole franchise bottlers of Coca-cola, Fanta, Sprite and Schweppes range of soft drinks has announced a reorganisation of its operational activities across Nigeria.
According to a statement from the company, this comes as part of a comprehensive plan to further consolidate its leadership position and enhance the long-term competitiveness and growth of its operations in Nigeria.


The new restructuring plan, the statement disclosed involves a huge investment in a new production facility in Abuja, even as the company will consolidate manufacturing, distribution and sales operations across the country. The proposed Abuja site will be one of the most modern plants ever built in Nigeria and demonstrate NBC\'s commitment to rapid modernisation and continued efficiency, the statement added.


The statement also disclosed: \"In the past five years, Nigerian Bottling Company has invested over N15 billion (U$D116 million) in the Nigerian business, and the plan is to invest a further N8 billion (U$D63 million) in 2006. Once the reorganisation is completed, it is expected that the high quality that the company is committed to providing in all aspects of its operations will be not only sustained, but further heightened, while the business operation itself is positioned for long-term growth\".


It added: \"As part of the consolidation process, production currently carried out at Onitsha and Makurdi will be transferred to other production sites within Nigeria. The existing sales, distribution and warehousing activities will continue to operate from both these locations. Consequently, the closure will in no way affect our esteemed customers in these territories\".


However, a fall-out of the restructuring the statement also disclosed is that 1300 employees will be affected by this reorganisation. \"The management of NBC has been in consultation with the representative unions within the company and has agreed a compensation package for all affected employees, well beyond that required by regulatory authorities\", the statement, however, assured.



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