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Manufacturing and Productivity

CFAO explains presence of full range at Abuja Motor fair

AS part of strategies to give customers the freedom of choice, CFAO Automobile Group resolved to storm the just concluded 2011 Abuja Motor Fair with its full range. ... Full story

Vono to discontinue production of foam blocks

Ernst & Young, the independent auditors to the members of Vono Products plc in their recent report have said that the company (Vono Products plc) had recorded a negative ... Full story

Neimeth sights new openings, shops for fresh funds

Neimeth International Pharmaceuticals Plc has said that the injection of N1.23 billion from its ongoing rights issue would boost its business and deliver higher returns to shareholders. Neimeth is currently making a Rights Issue of 821.577 million shares of 50 kobo each, at N1.50 per share, to raise N1.23 billion from its existing shareholders. The offer , which has Meristem Securities Limited, as issuing house, opened on October 4 and would close on November 10, 2011. Neimeth said in a statement last Friday that the injection of the fresh funds would translate into greater harvest for all shareholders. “One unique value of the proposition is that existing shareholders will maintain their current percentage holding in the company, thereby reducing the element of dilution of shares. The current very attractive dividend yield at 4.76 per cent has further buttressed Neimeth’s position of maximising shareholders wealth,” the company said. According to the company, the pharmaceutical sector is undergoing quality evolution with many key players raising the stake, building, expanding or refurbishing plants with a view to achieving the World Health Organisation (WHO) Good Manufacturing Practice (GMP) prequalification. ... Full story

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