Firm Seeks Govt Intervention In Aluminum Sector, Explains Growth Strategy
A FRONTLINE pioneer aluminum extrusion company, Nigerian Aluminum Extrusions Limited (NIGALEX) has unfolded strategies to boost its operation, reinforce its competitive edge and put the company on the path of greater profitability.
Besides, the company has identified some of the problems militating against manufacturers of aluminum products in the country and appealed for immediate intervention by the Federal Government to save the industry.
Addressing journalists at the company’s headquarters in Lagos recently, the Managing Director and Chief Executive Officer of the company, Mr. Iyiola Ishola explained that the company was currently on the next phase of its expansion drive, business growth and re-positioning for optimal performance.
Ishola identified the efforts being put in place in order to move the company to the next level, saying: “We have commenced strategic popularisation of our value through effective partnering with the press to create the needed awareness for the company’s products. We are ready to increase production output through our installed capacity of 7, 500 tonnage per annum and develop requisite channels to sell these outputs.
We shall embark on effective logistical plans to enhance operation within the agreed date and time. We are already investing heavily in human capital with a view to building the required capacity with renewable knowledge, skills and the right attitude that meet the requirements of modern production process,” he added.
He said the company would pursue progressive penetration of her products as a gradual process of dominating the market and upgrade the company’s production equipment processes and control for enhanced global standard.
In his clinical review of the operating environment, he pinpointed the challenges that have impacted negatively on the operations of companies in the sector such as low level of awareness of the major brands like Nigalex, preference for cheaper but low quality products, unwholesome practices of some dealers and fabricators who substitute Nigalex specification for low gauged aluminum profiles and almost non-existent Federal Government’s protection for the local manufacturers until recently.
Ishola, who commended the Federal Government on its various efforts towards creating enabling environment for the local industries, however, urged the implementation of local content policy, stressing that it was long overdue.
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