By Dipo Olowookere
The Nigerian paper packaging arm of Nampak, Nampak Cartons Nigeria, has been handed over to a Swedish company, AR Packaging, for an undisclosed fee.
The South African company, which is the biggest packaging firm in Africa, explained that it was offloading Nampak Cartons Nigeria as part of plans to reduce its portfolio and improve returns.
However, Nampak said it will keep its aluminium and tin canning products and services in Nigeria.
According to the Chief Executive Officer of Nampak, Mr André de Ruyter, “Proceeds from this disposal will further strengthen the company’s financial position.”
He added that, “We continue to rationalise the portfolio to improve returns on capital and reinforce our strategic intent.”
Nampak Cartons Nigeria was established in 2004 and operates a production facility in Ibadan, Oyo State, having about 200 workers on its payroll.
“The disposal of the cartons business in Nigeria is in line with Nampak’s ongoing strategy to sharpen our focus on strategic substrates,” the Nampak chief further stated in a statement on Wednesday.
The new owner of Nampak Cartons Nigeria is a well-known cigarette pack manufacturer.
Adedapo Adesanya