Vitafoam invests N2 billion on expansion projects

VITAFOAM of Nigeria Plc has invested over N2 billion into capacity expansion of its plants across the nation in the last five years.The company made this known yesterday at a media briefing on its golden jubilee celebration, which commenced with anniversary promo in June.Speaking at the event, the Chairman of the company, Sam Bolarinde, stated that the outfit has overcome numerous challenges to expand operations in Nigeria since inception.He said that the company can be said to have settled down to serious business with factories in Aba, Kano, Sapele and Jos.Bolarinde added that the company has also estblished 10 depots across the country to support the national coverage of the Vitafoam brands.'Our journey to our present enviable position has witnessed various challenging moments. Apart from contenting with vagaries of operational challenges in the harsh and unforgiving operating environment, unhealthy competition, products adulteration and low entry barrier, policies of suceeding government have not been too helpful.'Vitafoam has been able to turn these challenges into competitive advantages by coming up with innovative business solutions, when less robust organisations tipped over,' he said.Bolarinde expressed gratitude that the business, which started as an entity in 1962 has evolved into a conglomerate with the establishment of Vitapure Nigeria Limited, Vitablom Nigeria Limited and Vitavisco Nigeria Limited.He disclosed that the company has also established modern factories in Ghana and Sierra Leone.He explained: 'We have also established our modest presence in two neigbouring West African countries. Suffice to state that our effort in erecting a modern foaming factory in Sierra Leone was recently boosted when International Corporation took an informed decision to partner with us.'The company also holds substantial interest in Vono Products Plc, a company with which Vitafoam shares very similar history.'The company has outlined different activities to mark the 50th year anniversary. The anniversary started with promotions, which commenced in June to run through the end of August 2012.This was launched to offer its customers the unique opportunity to be part of the celebration.In line with the company's age-old tradition of giving back to society, series of 50th anniversary Corporate Social Responsibility initiatives have been put together, particularly for the less privileged.
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