Skip to main content

Dangote sells noodles firm to Indomie maker, Dufil

By

Dangote Flour Mills has exited the noodles business and sold its assetsto Dufil Prima Foods, makers of Indomie noodles, saying it no longer consider it as strategic.READ: ‘Dangote’ll be largest rice exporter in five years’Dangote Flour Mills, which made the announcement on Tuesday, said in order to smoothen the transition, it had offered Dufil the use of some of its facilities on an interim basis.The noodles business was part of the DFM, which the Dangote Group recently reacquired from Tiger Brands.The Group Managing Director, Dangote Flour Mills, Thabo Mabo, said the divestment was part of strategies of focusing on core areas of flour and pasta production, where the company has substantial market share.He said that with the divestment, Dangote Flour would now focus on its strengths in flour and pasta and become more profitable by improving in areas of quality, distribution and marketing.The transaction, which became effective last Monday, according to him, is a win-win situation for Dangote Flour Mills, Dufil Prima Foods and workers of Dangote Noodles, as Dangote Flour stands to have more market presence through robust marketing.Mabo described the sale and transfer of assets as one of the mostperfect divestments, with Dufil Prima Foods taking possession and kicking off production immediately.Under the terms of the sales agreement, Dufil Prima Foods, according to him, will continue to produce and sell noodles under the brand name, ‘Dangote Noodles’ for two years before changing the brandname.The Chief Executive Officer, Dufil Prima Foods, Deepak Singhal, confirmed the deal and described the acquisition of Dangote Noodles as strategic as Dufil continued to seek more dominance of the noodlesmarket.Acquiring Dangote Noodles, he said, would help Dufil deepen and sustain its market share as well as gain a strategic advantage in terms of several range of
He restated that Dufil was not shutting down the noodles production line but was commencingproduction with the brand name of Dangote Noodles immediately.To ensure seamless transition and commencement of production, Singhal stated that most of the former staff members of Dangote Noodles would be employed by Dufil Prima Foods.With the new development, some former employees of Dangote noodles would transit to Dufil Prima Foods, while the rest redundant workers had been adequately compensated with mouth-watering severance package for their servicesto the company over the years.Singhal added that the terms of the severance package were agreed withthe relevant trade unions and the affected workers were paid off immediately to enable those retainedby the new owners to start on a fresh contract, while those who would not be retained would not have to wait for their benefits.

Comments

Post a Comment

Popular posts from this blog

How Funke Akindele Sacked Juliana ‘Toyo Baby’ Olayode From ‘Jenifa’s Diary’ Because Of N3000

By
There were rumors that Funke Akindele and Juliana Olayode, who plays Toyo Baby on Jenifa’s Diary, have parted ways. According to TNS, Funke Akindele cut off Toyo Baby from the widely watched TV series over what the latter termed ‘bad pay’.   A source disclosed that Olayode and Funke parted ways after the former requested from a pay rise from Funke who felt that she’s an ingrate considering the fact that Olayode rose to stardom through her appearance on the widely-watched show. More sources close to SceneOneProductions, producers of Jenifa’s Diary, further revealed to TNS that the producer of the show, Funke Akinkele via her production manager and younger sister – Abimbola – pays actors between N3,000 and N150,000 (per episode/season of the show) depending on the role. An actress who spoke to TNS under the condition of anonymity via text message narrated how she was paid what she termed ‘peanuts’ by Akindele’s team af...
Post a Comment
Read more

Black Axe Cult Group Hail Davido as He Gets New ‘7’ Haircut With Their Slang

By
Davido  took to his social media account to debut a new haircut which has a number ‘7’ shaped on his head. According to some of his fans, the ‘7’ sign was carved into the singer’s cut as a honor to his alleged cult group, Neo Black Movement a.k.a Black Axe. In the photo caption, the ‘Fall’ crooner wrote, ‘INGBA INGBA !!! 7’ Many online users have alluded to the ‘7’ sign as a signature number of the cult group in addition to the fact that ‘ingba ingba’ means War ohh. The most notable of the whole scenario is that some alleged group members took to the comment section to hail the singer for his perceived support and solidarity. See screenshot of the singer’s post and the alleged cult members’s comments:
Post a Comment
Read more

Juan Ignacio Vs. Feelipe Meligeni: Rising to the Challenge

By
 Determining the Winner in a High-Stakes Tennis Match of Skill and Strategy Get ready for an explosive collision of tennis powerhouses as Juan Ignacio Londero and Felipe Meligeni Alves ignite the court with their electrifying skills. These two South American stars are primed to put on a show, leaving the audience breathless with their sheer intensity and artistry. The court will be alight with the energy of two players who have honed their skills to near perfection, leaving the spectators in awe of their raw talent. Both Londero and Alves are known for their electrifying playstyles, packed with cunning strategy and awe-inspiring shot selection. With every point, the tension will rise as the crowd is left on the edge of their seats, wondering who will seize the upper hand in this epic showdown. In the end, only one will be left standing—the victor of this battle of the titans. Who will come out on top, with the trophy in hand, is anyone's guess, as both players have what it takes to...
Post a Comment
Read more