In the aftermath of receiving approval of a Federal High court to merge with Portland Paints and Products Nigeria Plc, Chemical Allied Products (CAP) Plc, has said it is looking forward to growing its market share by 25 per cent in the next three years.
Managing Director, CAP Plc, David Wright, stated this at a media parley with newsmen in Lagos recently.
Wright noted that the market share of players in the paint industry is not massive and that with its current market share of 12 per cent and Portland’s 3 per cent, it would bepushing for 25 per cent volume of shares in three to five years. He further added that CAP intends to broaden its footprints geographically with the latest colour technology that will drive the future of the paint industry in Nigeria even as the growth of the real estate sector presents a good opportunity for the industry.
“Shareholders can be rest assured that they will get good value for their investments in CAP Plc and with two different entities under same umbrella, strategies, operations and management of cost will be key to the growth of the company which will be stronger in terms of profits and dividend which will trickle down to the bottom line and to shareholders.