SAT APRIL 13 2024-theGBJournal| Nigeria’s largest brewer, Nigerian Breweries (NB) Friday announced temporary suspension of operations at two its nine breweries.
The brewer in statement seen by theG&BJournal say, the move taken will drive optimization of its resources in the other 7 breweries some of which recently received significant capital investment and ensure a return of the business to profitability.
The temporary suspension of operation is one the measures taken as the company begins to implement what it says is ”decisive steps to secure a resilient and sustainable future for our stakeholders through a comprehensive Business Recovery Plan.”
This plan includes a N600 billion Rights Issue and a company-wide reorganization.
The company noted that in accordance with labour requirements, they have invited the National Union of Food, Beverage & Tobacco Employees (NUFBTE) and the Food Beverage and Tobacco Senior Staff Association (FOBTOB) to discuss the implications of the proposed measures.
”Our commitment to long term operations in Nigeria enabled by operational efficiency and financial stability is unwavering, as we aim to ensure the least possible impact on affected employees and maintain strong support for our communities,” NB said
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
