Investors hopeful of increased returns as firm rebrands
The hope of improved returns on investment rises for the shareholders of Industrial and Medical Gases Nigeria Plc as the company rebrands to expand its operation, grow income and scale up shareholders’ value.
Besides, the firm has developed a blueprint to strengthen its global competitiveness on a sustainable basis, irrespective of the harsh operating environment.
The company, formerly BOC Gases, recently announced its new name: Industrial and Medical Gas.
The Managing Director and Chief Executive Officer, Ayodeji Oseni, assured the shareholders that the rebranding was the dawn of a new era.
According to him, the company is more positioned to expand its operations, introduce innovative products and enhance shareholders’ value.
“We are all very excited about the bold and ambitious commitments that have been made by our new investor, the TY Holdings. These commitments will lead to additional plant procurement with accompanying facilities, strategic development of manpower, growth and development and business expansion within Nigeria and West Africa to name but a few.
“We shall leverage our team of seasoned staff with rich industry experience, modern equipment and quality products and services for optimal performance and generate shareholder value on a sustainable basis, grow our businesses and evolve new products and business opportunities,” Oseni said.
The Chairman, Abiodun Alabi, explained that the rebranding was necessitated by the board’s determination to strengthen the company’s operations, following its acquisition of a 60 per cent stake by TY Holdings.
“In August this year, The Linde Group sold its controlling 60 per cent equity to TY Holdings, a group of companies, which has several business interests in various sectors.
“Today, as we unveil the new name and logo of our dear company, the collective challenge to all stakeholders is to join hands to endure the success of our new journey.
“The bane of our industry at present is lack of government regulations and standards to ensure that players provide safe and quality products. I call on the Federal Government to address these challenges without further delay,” said Alabi.
Founder, Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu, congratulated the management on the historic event and described the rebranding as a great expectation of increased dividend for the shareholders.