By Peter Egwuatu

Nigerian Breweries, NB Plc has assured the investing public of its commitment to enhance operational efficiency following the merger between it and Consolidated Breweries.

Chairman, NB, Chief Kola Jamodu, gave the assurance when the management of the company paid an official visit to the Nigerian Stock Exchange, NSE in Lagos

He said: “We will continuously abide by the post listing requirement of the NSE. We are committed to enhancing operational efficiencies and maximize value for all investors of the merged company. We are at the NSE to formally introduce the enlarged company management to the NSE and investing public.

”He revealed that the new NB has 11 breweries strategically spread across the nation as against five breweries before the merger. “We have two malting plants and 19 brands including the lagers-Heineken, STAR, Gulder, 33 Export, Goldberg, More and Life; The Stouts- Legend Extra stout, Turbo King and Williams Dark Ale.

“The non alcoholic malt drinks- Maltina , Amstel Malta , Malt Gold, Hi Malt, and Maltex. Other brands in the company portfolio are: Fayrouz, Breezers, Ace Passion and Climax Energy drink.”

Jamodu restated the company’s resolve to increase wealth for shareholders and other stakeholders.

He said: “This is expected to be achieved through major cost savings in the areas of interest expenses, distribution / administrative cost among other operating activities where duplication will be eliminated. Expenses such as annual general meetings, board of directors fees, and communication expanses to shareholders will be reduced.”

Other major benefits to be derived from the merged entity, he said include cost savings from consolidation of supply and distribution networks of both companies as a result of improved operational efficiencies arising from integrated operations.

His words: “The products of both companies will be manufactured more efficiently through their combined operational capacities. The legacy companies have maintained stable growth in sales revenue and profitability in fiove years.”

The merger of NB and Consolidated Breweries is also a boost to the equities market, as former shareholders of Consolidated Breweries, whuich was not listed in the NSE , now have the opportunity to trade their shares on the floors of the exchange.

Meanwhile, the Doyen of the Nigerian stock market, Mr. Sam Willie Ndata, who spoke on behalf of the capital market community, said “We commend the management of NB for its effort and performance to improve stakeholders’ value. We will support the company and hope you will also come back to present fact behind the figures.”