NIGERIA – Nigerian packaging firms will leverage on latest technologies and innovations in the industry to boost their top-line and bottom-line performances.
Similarly, there has been an increased investment appetite in this sub-sector as firms in the industry have moved to tap into the growing middle-class, rising consumer market and disposable income, Real Sector Watch has found.
Between Tuesday and Thursday last week, a three-day exhibition entitled ‘Propak West Africa’ was organised for industry players. Over 50 local and foreign exhibitors participated and exhibited the latest technologies that would improve the fortunes of the packaging industry and drive up its current 4 percent annual growth rate.
“The exhibition is meant to showcase latest technology that is available in the industry,” said Tori Abiola, managing director of the event, in a telephone chat with Real Sector Watch.
“It is really an opportunity for companies to see the growing need for better packaging. They are all willing to embrace the technology. You can see the latest packaging technology for consumer goods companies, pharmaceuticals and others in the manufacturing industry,” Abiola said.
Peter Peng is the sales director of Leiwest Pak International Company Limited, India, whose company specialises on beverage aseptic filling and packaging machine, which can be applied in industries such as milk, juice, alcohol and other protein drinks.
He tells Real Sector Watch that the firm sells machines to packaging firms without providing technical services, adding that the firm is even making bigger plans for the local industry.
“We are planning to set up an office in Nigeria next year,” he says.
Bhaven Parmar, sales manager, Mamata Extrusion Systems, says his firm is eager to provide co-extrusion blown film lines, train company staff on use and application and provide technical services to them.
Hetal Shah is of the Vora Packaging Limited, India. The firm makes expanded polyethylene cap liners, aluminium foil induction seals with paper board backing, among others. Its seals and liners are used in pharmaceutical, food, dairy, cosmetics, lubricant oils, agro chemicals, wine and liquor firms. Chellarams plc, among other local players, also participated.
While Leiwest Pak International Company Limited intends to tap into the growing trends in the industry, Nampak has officially acquired the Alucan Packaging Limited in Nigeria on February 25, 2014. The investment is worth $301 million.
Nigeria’s packaging industry has shown significant growth in the last five years with about 40 percent expansion, according to Naomi Peterson, managing director, Nampet Ventures Nigeria Limited, producer of disposable plastic materials based in Port Harcourt, Rivers State.