Nigeria’s Beta Glass retains top management officials at the company’s board

NIGERIA – Beta Glass Plc, a Nigerian glass packaging group and subsidiary of Frigoglass Industries Nigeria Limited, has resolved to retain majority of its directors in its board. The company during its recently held annual general meeting re-elected Mr. Darren Bennett-Voci as Managing Director, Otunba Abimbola Ogunbanjo as Chairman of the Board of Directors, and Mr. Nikolaos Mamoulis as a Director of the Company. With over 21 years of experience in the container glass industry, Mr. Bennett-Voci has been serving as the company’s managing director since May 2016. He has…

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Nigerian packaging group Beta Glass reports 23% growth in full year profits on strong growth in sales

NIGERIA – Beta Glass Plc, a Nigerian packaging group and subsidiary of Frigoglass Industries Nigeria Limited, reported a 23% growth in net profit during its 2018 financial year. The manufacturer and supplier of glass bottles and containers for the beverage industry posted net earnings of US$13.84 million during the financial year up from US$11.35 million recorded in the previous year. The strong performance was attributed to growth sales which were up US$72.81 million from US$61.18 million in 2017 supported by reduced expenses across its selling and distribution channels. This saw…

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Frigoglass to invest upto US$34m to enhance capacity in Nigerian operations

NIGERIA – The Greek commercial refrigeration and glass manufacturer, Frigoglass has announced that it will invest between US$28.4 million and US$34.1 million in increasing its capacity and revamping its glass operations in Nigeria. According to the Beverage Industry News report,the investment will increase capacity at the company’s Beta Glass Guinea plant,located in Agbara, Ogun state in Nigeria by 35,000 tons per year. It will go into establishing a new furnace to replace an existing one that has reached the end of its life, an additional production line, upgrades to existing…

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Beta Glass, Frigoglass in exploratory deal

NIGERIA – Beta Glass Plc last week, notified The Nigerian Stock Exchange that Frigoglass SAIC in Attens, the parent company of Frigoglass Industries Nigeria Limited, which is the core investor in Beta Glass Plc has announced that it is commencing an exploratory process relating to strategic options for its Glass business.

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