Vitafoam’s Boss links Performance to Multiple Products

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Vitafoam’s Boss links Performance to Multiple Products

Continuous investment in innovative products and services through its subsidiaries, has been ascribed to the profitability trajectory of a leading manufacturer of rigid foams and other household materials in Nigeria, Vitafoam Nigeria PLC.

Despite the inclement operating environment, Vitafoam has remained resilient with an average gross margin of 37.90 percent in the last five years and the company’s shares is one of the most sought after on the Nigerian Stock Exchange Limited (NGX) due to track record of consistent profitability.

Addressing the members of Organisation for Technology Advancement of Cold Chain in West Africa {OTACCWA) and Nigerian Institute of Architects (NIA), during their facilities tour of Vitapur Nigeria Limited’s plant in Lagos, yesterday, Vitafoam’s Group Managing Director and Chief Executive Officer, Mr Taiwo Adeniyi, explained that Vitafoam was no longer just about manufacturing of rigid foams but had developed other innovative products through its subsidiaries in Nigeria and overseas.

“ Vitafoam is consolidating into core business with the introduction of innovative value added products and services. The Company is a full range solution provider for bedding and allied products. It operates strong Comforr Centres as one stop shop for discerning consumers, including baby products The quality products across its subsidiaries provide multiple choice for its different classes of consumers.

“ Vitapur Nigeria Limited manufactures insulation boards, and sandwich panels amongst others,
Vitavisco produces elastic foam, pillow, and foam sheet used for construction, Vono produces metal and wood furniture, Vitablom and the new baby, Vitapart are into oil filtering production, the first of its type in the West Africa. Vitafoam group has factories in Kano, Jos, Aba, and Ikeja as well as offshores.”, said Adeniyi.

Vitapur’s General Manager, Mr Yemi Mofikoya who made a comprehensive presentation on the company’s products and services stated that the Vitapur was willing to partner with the Federal Government for fiscal incentives to expand its operations and take advantage of the African Continental Free Trade Area ( AfCFTA) to export mass building materials and earn forex for Nigeria.

After the facilities tour, the President, OTACCWA, Mr Alexander Isong commended the Management of Vitapur for the state-of -the -art factory, saying “ it meets standard and the management should support the vibrant staff at the laboratory line”

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