L-R The Vice President of IMAS, Mustafa Ozdemir; and Chairman BUA Foods Plc., Abdul Samad Rabiu, during the signing of an agreement to boost BUA Foods' Wheat Flour Milling capacity to 2.5million MTpa on Tuesday, August 20, 2024.
BUA Foods Plc, one of Nigeria’s leading food manufacturing companies, has signed an agreement with IMAS, a prominent Turkish flour milling equipment manufacturer, to build four (4) state-of-the-art wheat and flour milling factories with a cumulative milling capacity of 3200 tonnes per day.
This transformative move is part of BUA Foods' strategic expansion plans into new markets since its debut on the Nigerian exchange (NGX). The new factories are expected to provide enhanced manufacturing capacity and capabilities to deliver more high-quality products that will contribute towards addressing food challenges in Nigeria.
The agreement was signed during a formal ceremony attended by top executives from BUA Foods and IMAS, underscoring BUA Foods’ commitment to sustaining growth, by expanding production capacities across all its business divisions.
Speaking at the signing ceremony, Abdul Samad Rabiu, Chairman of BUA Foods Plc, said, "This partnership with IMAS is a testament to our dedication to improving food security in Nigeria. These new factories will significantly boost our capacity to continue to produce high-quality flour products while helping to create additional job opportunities across the country."
“This investment is a step towards our target of increasing our share of the Nigerian flour market. The addition of four mills will enable us to produce high-quality flour thereby offering us the flexibility to address various potential flour needs.”
Also commenting, Vice President of IMAS Mustafa Ozdemir said, "We at IMAS are happy to again contribute to BUA Foods expansion drive aimed at ensuring that more people in Africa have access to affordable and healthy food."
BUA Foods Plc (NGX: BUAFOODS) stands out as a prominent player in the food industry, boasting a diverse and scalable portfolio that includes the production of sugar, flour, pasta, rice, and edible oils. The company operates strategically positioned facilities throughout Nigeria and maintains strong relationships with local stakeholders in the communities it serves. Furthermore, BUA Foods is recognized for its resilience, underpinned by a robust brand identity and a solid reputation for delivering high-quality products.
The company is committed to investing in advanced technology to enhance food production efficiency and is actively pursuing innovative growth through strategic partnerships across the value chain.
Headquartered in Nigeria and publicly listed, BUA Foods ranks among the most capitalized entities on the NGX Exchange and is a leading consumer goods company in terms of market value.