expands to Nigeria
Production to serve Nigerian and neighboring markets
Sipes International, a manufacturer of paints, will break ground on a factory in Lagos, Nigeria by late 2015, which it expects to complete in 2017.
Wajih Bizri, Chairman of Sipes International, said: “Nigeria is a promising market as it hosts a large population and the construction sector is witnessing growth, so there is a good demand for paints.” The company will market its products in Nigeria and its neighboring countries.
The $5 million factory will have a 10,000 square meter built-up area. Its production capacity will be 10,000 tons, compared to 1,000 tons, per year, for the factory in Lebanon. Bizri said that in the factory will gradually increase production to a full capacity of 10,000 tons per year. Bizri said that the workforce will be both Lebanese and Nigerian.
Sipes International has factories in Egypt, Libya, Sudan, Saudi Arabia, and Jordan.
Date Posted: Jul 01, 2015