Markets

HPZ Boosts Shareholders’ Confidence with New Factory

Haier Paterson Zochonis (HPZ) Limited, a subsidiary of PZ Cussons, has restated its commitment to boosting shareholders' confidence despite the harsh business environment facing manufacturing activities in the country.
 
The Chief Executive Officer, PZ Cussons, Mr. Christos Giannopoulos, explained that although manufacturing operations in the country still remains difficult and pressurised with so many challenges, HPZ has been waxing stronger by the day and maintaining its leadership position in the industry and also boosting shareholders' confidence.
 
Giannopoulos, in a facility tour to launch the company's new factory called Telemachus, stressed that the factory was established to meet the ever-growing demand of the Nigerian market maintaining that Nigeria represents about 75 to 80 per cent of its global turnover.
 
"Nigeria has been the backbone of all our activities and we are also extremely excited about the opportunities in the country than we have been for a very long time," he said.
According to him, the company is improving its productivity continuously by investing in state-of-the-art machineries and equipments, maintaining that over $40 billion dollars have been invested in the Nigerian market.
 
“We are extending our production and distribution networks because we are anticipating that the demand in Nigeria will go up. We are committed to Nigeria and we also see a huge advantage in the country where we have about 80,000 loyal and esteemed shareholders. We see this as a positive benefit to us,” he added.
 
He said the company's capacity utilisation with the new factory is a bit lower than what the company expects, stressing that HPZ was building for the future to meet customers' expectation and demands.
 
He pointed out that with the new factory, the company would increase employment by 15 per cent and currently employs over 2500 staff thereby contributing its own quota in providing job opportunities in the country.
 
"Our Mamador vegetable oil is an all-Nigerian product produced locally here in Nigeria. This product just came on stream last three months and we are putting our effort behind this invention because we believe so much in local content. This gives us enormous advantage to produce locally,” he said.
 
He noted that the company has enjoyed tremendous business successes in Nigeria for over a century and has understandably established unrivaled consumer loyalty to its wide range of products over this period.
 
“We have adopted a Strategic Business Units (SBU) structure to relentlessly focus and drive ourselves towards achieving profitable growth in all our product categories. Our business policies, systems and actions procedures and processes, corporate and personal ethics, corporate image, employee development, equality of opportunity, remuneration, services provided to distributors are harmonised between all our SBUs, ensuring the sharing of best practice and operational synergies,” he said.
 
He said the commercial team handles the marketing of its traditional and new brands in the Soaps, Detergents, Health, and Beauty categories as one of the oldest conglomerates in Nigeria today.
 
“A key strength in Nigeria is our extensive network of depots and factories. With distribution services given its own focus as a business unit, varied technological innovation in warehousing and distribution have been put in place to deliver first class distribution and our manufacturing and logistics departments have undergone positive changes in recent times," he stated.
 

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