Union Dicon Salt Consolidates Its Agro Base

Union Dicon Salts Consolidates its Agro business

Union Dicon Salt Plc (UDS) has continued implementation of its transformation strategy by acquiring 2,000 hectares of land in addition to its existing portfolio of 15,000 hectares of in Edo State.

The company in statement to Nigerian Stock Exchange (NSE) today said that, “In furtherance of the transformation strategy approved by its board of directors, to become a fully integrated Agro Industrial National champion, the management of Union Dicon Salt Plc (UDS Plc), has signed terms for another investment in the Agro Industrial sector.

“In addition to its earlier agreement for (its) land acquisition of 15,000 Hectares of land in Edo State, this investment will add 2,000 Hectares to its land portfolio, and make UDS the largest cassava producer in Nigeria.”

The company said the transaction would ensure security of feed-stock supply, as UDS Plc moved ahead in establishing its cassava processing facilities in Edo and Delta States, adding that it would also fulfill management’s commitment to become cash flow positive before the end of 2016.

Union Dicon Salt operates in the Nigerian consumer goods section and was established in 1984. It was, until a few years ago, the largest producer of salt in Nigeria.

Following board and shareholder approval, it has been diversifying into the agro industrial sector, with an initial concentration of cassava and starch processing.

The company has also finalised agreement with GEA Westphalia of Germany to build the largest industrial starch processing facility in Nigeria.

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