Vitafoam to consolidate subsidiaries, export business
AS part of strategies to improve its market share in Nigeria and other West African countries, Vitafoam Nigeria Pc has unveiled plans to consolidate investments in its subsidiaries as well as harness opportunities in the sub-region following the reduction in the spread of the Ebola virus disease.
Indeed, the firm explained that its products offering has further improved with an expansion exercise that gave birth to some of its current subsidiaries Vitapur, Vitagreen, Vitavisco and Vitablom.
Addressing journalists in Lagos, recently to commemorate the 2015 World Sleep Day, the company’s Group Managing Director, Joel Ajiga explained that Vitafoam Nigeria Plc ventured into production and supply of flexible, semi-rigid and rigid polyurethane foam products leading to incorporation of more subsidiaries.
According to him, though the company’s subsidiaries are still at the gestation stage and being nurtured for growth, the company is effectively exploring backward and forward integration efforts to drive the production of innovative products.
He explained that the company is unrelenting in its efforts to harness opportunities in the automotive industry by being a value-chain driver, while exploring cost cutting measures to mitigate economic challenges facing industrial firms.
He said: “Vitafoam over the years, has metamorphosed from being a household name in the production of just mattresses and pillows into being a foremost provider of ultimate comfort products.
Though the company’s mainstay over the course of its 53 years of business was in beddings and related products, it has ventured into production and supply of flexible, semi rigid and rigid polyurethane foam products including furniture, bed and beddings, foot wears, insulated panels and moulded product. This expansion gave birth to some of its current subsidiaries Vitapur, Vitagreen, Vitavisco and Vitablom.
“As a solution-oriented organisation, Vitafoam Nigeria Plc, supports the World Association of Sleep Medicine (WASM) to lessen the burden of sleep problems on society through better prevention and management of sleep disorders with our world class sleep products.