SIAT Group Consolidates Edible Oil Subsidiaries In Nigeria, Ghana Under Presco Plc
SIAT Group has restructured its edible oil operations in West Africa by consolidating Ghana Oil Palm Development Ltd (GOPDC) and its Nigerian subsidiaries, Presco Plc and Siat Nigeria Limited (SNL), under Presco Plc. This strategic move aims to enhance sustainability, market position, and growth. All three entities will remain subsidiaries of SIAT Group, benefiting from its industry expertise. The consolidation is expected to bridge supply gaps and boost market share in Ghana and Nigeria, contingent on regulatory approval.
Leading agro-industrial group, SIAT Group (Societe d’Investissement pour l’Agriculture Tropicale NV), has announced the consolidation of its edible oil businesses in Nigeria and Ghana, under Presco Plc., a fully-integrated agro-industrial company.
The move was a strategic restructuring indicative of the company’s market expansion. With this decision, Ghanian company, Ghana Oil Palm Development Ltd (GOPDC), and SIAT Group’s Nigerian subsidiaries, Presco Plc and Siat Nigeria Limited (SNL) will now operate as independent entities under Presco Plc – while remaining subsidiaries of SIAT Group.
With a focus on sustainability, market advantage, and leadership, SIAT Group’s new business structure aims to drive the long-term growth of its assets and customer base across West Africa. Still operating as subsidiaries of SIAT Group, Presco, SNL, and GOPDC will be individually supported by the company as usual. As associate companies, Presco, SNL, and GODPC’s stakeholders will continue to merit from SIAT Group’s network of industry and technical expertise that deepens their market value and drives their evergreen, individual success.
The realignment of the companies is in line with SIAT Group’s strategic expansion plans to enhance the company’s financial strength, attract investor interest, and maximize impact for its stakeholders.
Subject to meeting regulatory requirements in Ghana and Nigeria, the consolidated Presco Plc. will bridge supply gaps within the African market to fuel industry growth and leverage market opportunities as a collective. The restructuring will particularly elevate GODPC with a strong platform in the Ghanaian market to power the company’s economic contributions, market share, and capacity to fill commercial gaps in the local market
Source Link : https://leadership.ng/siat-group-consolidates-edible-oil-subsidiaries-in-nigeria-ghana-under-presco-plc/
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