The management of Beta Glass Plc, on Friday, announced through the Nigerian Stock Exchange (NSE) that it would complete expansion of its Agbara plant, Ogun State, furnace capacity on schedule in June 2020.
According to a statement by the company’s Managing Director, Darren Bennett-Voci, when operational, the new ultra-modern furnace will increase the plant’s annual capacity by 35,000 tons.
Besides significantly enhancing the ability of Beta Glass to meet the growing demand for glass bottles and jars in Nigeria and across West Africa, it will “create a number of new jobs, both direct and indirect.”
The new furnace, with a planned productive life of over 12 years, which is billed to replace the existing one, which will end its productive life by next year, will equally enable Beta Glass to bring a lighter weight, non-returnable glass bottles to market in Nigeria for the first time.
Continuing, he said the new furnace project also comes with an additional production line, improvements to existing production lines including the latest quality inspection equipment which will further enhance operational efficiency.
The new furnace is also expected to strengthen the position of Beta Glass as a leading supplier of glass bottles and complementary packaging products in West Africa.
Commenting, Otunba Abimbola Ogunbanjo, chairman of the company said the investment which will enhance the company’s growth will create long-term value for both shareholders and the society in general.
The new furnace, he continued, “will enable us to leverage the latest technology and our technical expertise to make world-class glass packaging products in Nigeria, whilst promoting sustainability and improving our environmental footprint.”
The statement also quoted Bennett-Voci as expressing delight at the progress made so far on the project, noting that the investment reaffirms the company’s deep faith in Nigeria and the high growth potential of West Africa.
Appreciating the stakeholders for the valuable support since the inception of the project, Bennett-Voci said it will pioneer the use of the Narrow Neck Press and Blow (NNPB) Technology in West Africa.