Exclusive: Beta Glass to invest €17.5m in Nigeria’s business expansion push.
We are pleased to see Beta Glass accelerating its performance, led through the execution of our business-wide transformation strategy, which commenced in early 2023. We have delivered operational efficiency improvements at our plants in Agbara, Ijebu Ode, and Ughelli, streamlining production and optimizing energy usage. Across the business, we have a clear focus on capital discipline and managing our cost base, setting us up well to support our existing customers and explore new offerings.
Alongside this, we have continued to position Beta Glass strategically in the marketplace, supporting the growing demand in food and beverage, and focusing on the growing domestic pharmaceutical, wine and spirits sectors.
We will continue to deliver against our strategy, supporting our customers, and developing into new product lines. We appreciate that there is market volatility, and Beta Glass has put in place processes, systems and agreements to position us well to continue driving our performance and are well poised to accelerate our growth. Beta Glass sees strong demand from our core markets, and we project significant year-on-year growth and profitability.
We are committed to delivering shareholder value aligned to strong business performance and will outline our dividend policy in the coming months. We are committed to growing our business and investing in our facilities, including an additional €17.5mn to rebuild one of our furnaces to further increase capacity and our capabilities. We will continue to balance shareholder returns with building long-term value in Beta Glass.
Beta Glass continues to serve our core market in Nigeria and regional customers, with Beta Glass now exporting to over nine countries. Our focus remains on producing high-quality, durable glass products that offer significant lifetime cost and sustainability advantages over plastic or metal packaging.
The African Continental Free Trade Area (AfCFTA) presents a significant opportunity for Beta Glass by reducing trade barriers and fostering greater economic integration across the continent. AfCFTA is creating a larger and more accessible market for our high-quality glass products. Demand for consumer products continues to show strong growth across the region, and we are further investing to increase capacity and our capabilities to serve our existing customers and new demand.
Source: Businessday
