CFAO NIPEN Leads In Plastics Manufacturing—Board Chairman

CFAO NIPEN, a subsidiary of the CFAO group in
Nigeria, has sustained its leadership in Nigeria’s
plastics industry in spite of the economic recession. This was stated by Mr. Steve Faderin, Chairman of
the Board of CFAO NIPEN, during the 41st Annual
General Meeting of its stakeholders held in Lagos. Noting the trending recession facing the business
of manufacturing in the country generally, Mr.
Faderin said that additionally, stiff competition from
cheaper, substandard competitors created a
pricing gap for NIPEN’s products. He stated that in spite of this scenario, the
‘Premium Ball Pen and Crates categories
maintained about the same sales volume as the
previous year.” His words, “In the Razor category, whilst we
sustained our market leadership position, the
overall market contracted due to the decline in
disposable incomes and the unrelenting assault by
counterfeiters. NIPEN will continue to apply its
Kaizen programme of quality enhancement of its products and maintain adjustments of operational
tactics to reduce exposure to foreign exchange
fluctuations; the company would also look for
further optimisation of operating expenses,
preserving the capacity to produce and distribute
and be in good position for expansion as soon as the economy stabilizes.”