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N1.6b Carpet Factory Unveiled

Posted by The PM News on 2008/09/15 | Views: 1369 |

N1.6b Carpet Factory Unveiled


In order to ensure the production of world class carpets in Nigeria, Lucky Fibres Plc has commenced production at its N1.6 billion state-of-the-art printed carpet factory in Ikorodu, Lagos State. It is the first of its kind in sub-Saharan Africa.

In order to ensure the production of world class carpets in Nigeria, Lucky Fibres Plc has commenced production at its N1.6 billion state-of-the-art printed carpet factory in Ikorodu, Lagos State. It is the first of its kind in sub-Saharan Africa.

The governor of Lagos State, Mr. Babatunde Fashola, who commissioned the factory, commended the management and staff of the company, for positively contributing towards the development of the Nigerian economy.

Fashola said government will continue to engage in rewarding partnership with private sector operatives like Lucky Fibres to drive entrepreneurship and to fight poverty, while extolling the dexterity of the Aswanis, owners of the company, which has been propelled and placed among the top 50 most profitable carpet manufacturing companies in the world.

“If a company that does not have regular power supply can be among the top 50 most profitable carpet companies in the world, what will happen if it now has uninterrupted power supply? It means it can be among the top 10,” the governor said, stressing that Lagos State and Nigeria will continue to offer business return of between 15 and 30 per cent to investors because “the market is here, the profitability is real and the transparency of the economy is there… there is a huge market that is under-provided for in every term, whether it be housing, luxury goods, furniture and household equipment.”

In his welcome address, Mr. Haresh Aswani, Managing Director, Lucky Fibres Plc, said the company has indeed come of age since it was incorporated in 1986 but started manufacturing activities in 1990 as a producer of raw materials for carpet manufacturing in Nigeria, that is, yarn and gradually evolved as a dominant player in the carpet industry in Nigeria.

According to him, the company is presently engaged in manufacturing of bulk continuous filament yarn and tufted carpet, which has become the toast of consumers, noting that the company’s biggest strength lies in its state-of-the-art technology which earned it the first textile manufacturer in Nigeria to get ISO 9001:1994 accreditation from the Standards Organisation of Nigeria (SON) and to win the Best Kept Industrial Premises Competition back to back by the Manufacturing Association of Nigeria (MAN).

The commissioning of the new N1.6 billion facility marked a turning point in carpet manufacturing in the country. Prior to this, the company was utilising the tufting technology to churn out carpets to meet domestic requirements. The tufting technology has its limitations in terms of number of colours and designs, the designs being offered consumers were only geometric. With this development, the company now produces world class printed carpets and rugs called D’ziner Collection.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.