Lagos, Nigeria: Berger Paints Nigeria Plc, a quoted company and leading paints and allied products manufacturer has concluded plans to outsource its seventeen (17) depots nationwide.
This renewed effort is to reduce huge cost of operations and boost shareholder value. The strategy, aimed at enhancing accessibility, visibility and availability of the company’s products is expected to boost earnings and strengthen its competitive edge.
Besides, Berger Paints has redeployed some of the affected staff while some new hands had been recruited in order to put the company on sustained platform of profitability.
Commenting on the development, the Managing Director and Chief Executive Officer, Peter Folikwe explained that the strategic move was designed to improve the company’s operational efficiency and ensure strong and sustainable growth of both the top and bottom line.
“These steps taken by the Board and Management will enhance proximity of our products to our customers and ensure the availability of genuine Berger Paints products all over the country”, Folikwe said.
According to Folikwe, this aggressive expansion scheme by the company has seen the deployment of existing and newly recruited employees to cover its front and back end operations.
He noted that by the completion of the first phase of the outsourcing scheme, the second phase has also commenced.
Under the second phase, Franchisees would be appointed in other locations of the country where Berger Paints has minimal presence and visibility.
Folikwe advised existing and aspiring entrepreneurs to key into this scheme which promises to be a rewarding one as testified to by those who have become Berger Paints outsourced depot operators, distributors and dealers.
He encouraged existing and potential customers of the company not to use inferior paint products, because these do not only have severe mid to long term financial implications, but also constitute health hazards.
Berger Paints has been undergoing steady turn around since the assumption of office by Folikwe last year. The Board and Management have embarked on series of activities aimed at ensuring brand positioning of the company. These include new approach to marketing, investment in modern plant and mercenaries for enhanced quality products and adherence to the global standard of corporate governance among others.
Berger Paints which commenced operation in Nigeria on January 9, 1959 is a leader in the coating and allied industry – a legacy it inherited from Lewis Berger, the German colour chemist who founded the Berger Paints’ dynasty of London in 1760.
Berger Paints Nigeria Plc, which engages in the manufacture of decorative and industrial paints, marine and protective coatings, automotive /vehicle refinishes and allied products, was incorporated in Nigeria on January 9, 1959 as British Paints (W.A.) Limited.
It commenced business in 1961 by importing paints from its principal partner in the United Kingdom in March 1962. It commissioned its factory in Lagos, which was the first paint factory in the country. The company was the first paints manufacturing company quoted on the Nigerian Stock Exchange (NSE) and it had won the prestigious Annual President Merit Award of The Nigerian Stock Exchange several times for corporate excellence.