Following acquisition of 60 per cent stakes of BOC Gases by TY Holdings, the company has announced the rebranding of its name from the former, to Industrial and Medical Gas Nigeria PLC (IMG), unveiled new company logo, while also assuring its shareholders of better value for their money.
The company’s Managing Director and Chief Executive Officer, Ayodeji Oseni announced this, over the weekend, at the company’s head office in Lagos State.
According to Oseni, besides, the frontline manufacturer of industrial and medical gases in Nigeria, the company has developed a blueprint to strengthen its global competitiveness on a sustainable basis, irrespective of the nature of the operating environment.
He assured shareholders that the rebranding was a dawn of a new era, as, “the company is more positioned to expand its operations, introduce more innovative products and enhance shareholder value. We are all very excited about the bold and ambitious commitments that have been made by our new investor, the TY Holdings.
“These commitments will lead to additional plant procurement with accompanying facilities, strategic development of manpower, growth and development and business expansion within Nigeria and West Africa to name but a few.
“We shall leverage on our team of seasoned staff with rich industry experience, modern equipment and quality products and services for optimal performance and generate shareholder value on a sustainable basis, grow our businesses and evolve new products and business opportunities,” Oseni said.
In his welcome address, the Chairman, Mr Abiodun Alabi, explained that the rebranding was necessitated by the Board’s determination to strengthen the company’s operations, following its acquisition of 60 percent stake by TY Holdings
“In August this year, The Linde Group sold its controlling ownership of 60 per cent to TY Holdings, a group of companies which has several business interests in various sectors of the Nigerian economy.
“The TY Holding Group is known for astuteness, great vision, and passion to excel in any field that it has presence. The shared vision is to significantly strengthen the number one position of our company in Nigeria and deepen our activities in West Africa.
“Today, as we unveil the new name and logo of our dear company, the collective challenge to all stakeholders is to join hands to endure the success of our new journey.
“The bane of our industry at present is lack of government regulations and standards to ensure that players provide safe and quality products. I call on the Federal Government to address these challenges without further delay.”
There was likewise an outpour of goodwill messages from shareholders. a prominent shareholder, Sunny Nwosu who congratulated the Board and Management on the historic event and described the rebranding as a great expectation of increased dividend for the shareholders.
Incorporated in 1959, the company was founded in Nigeria as Industrial Gases Limited, (IGL). It became a Public Liability Company (PLC) exactly 38 years ago.
Source: Thisday
