Flour Mills of Nigeria Plc
Flour Mills of Nigeria Plc said it would commence production at its 750,000 metric tonne sugar refinery in December this year. Its Chief Financial Officer, Jacques Gauthier who dropped the hint in Lagos recently, said “We are confident we will have our first production trials in December this year.”
He explained that Flour Mills received approval “in principle” from the Securities and Exchange Commission (SEC) to acquire the minority shareholding of Nigerian Bag Manufacturing Company Plc, a situation, he added, would reposition the company in its product manufacturing business.
He said company’s board would soon announce the next stage of its negotiation with shareholders of the Nigerian Bag Manufacturing Company.