Cormart Nigeria Ltd., a leading chemical & food raw materials company and a member of TGI Group recently announced its partnership with Kerry, one of the world’s leading manufacturers of food flavors and ingredients.
The partnership entails the local manufacturing of flavors for industrial applications. Kerry has been in the Nigerian market for a long time selling finished products, but will now begin local production in Nigeria with Cormart Nigeria Limited.
This is in line with Cormart’s commitment to expand its manufacturing capabilities in its sectors. It will also enable Kerry to be more sensitive and responsive to the local market requirements. The benefits for both businesses and their potential customers are enormous, as this collaboration will improve the quality of the products by saving shipment time, and ultimately reducing cost.
Robin Oort, Sales Director, Kerry Taste and Nutrition, APMEA, spoke about the partnership with Cormart. He said, “Kerry has had a long standing relationship with Cormart and we are happy that we can bring this partnership to a new level through our new manufacturing contract.”
The partnership makes it easier for Nigerian manufacturers to conveniently procure the top quality Kerry flavor. There will be no forex required, less capital tied up in LC’s, smaller minimum order quantities (MOQs) and shorter lead times.
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Martin Middernacht, Cormart’s Managing Director, expressed his delight with the new partnership. He said, “We are delighted to partner with a world class company that operates at the highest quality standards. It is a great sign for the quality level at which we operate at Cormart.”
Cormart’s General Manager, Dr. Johannes Flosbach, equally commented on the economic benefits of this partnership to the manufacturing sector. “This is timely in view of the recently ratified African Continental Free Trade Area (AfCFTA). We will not only produce for Nigeria, but also for neighbouring markets. This project helps Nigeria become a regional manufacturing hub, and our commitment to the Nigerian market is to ensure that we expand our local manufacturing capabilities.”, he said.
Business Unit Head, Cormart’s Food & Nutrition Department, Felicia Onabanjo, also shared her views on the opportunities this partnership presents for customers, stating that: “The partnership is a welcomed development. It is going to help in reducing the cost of importing raw materials, which is an economic boost for beverage, distillery, and confectionery industries”.
The partnership will enable a large variety of other local production projects – both for Cormart, its sister companies under the TGI Group, and other companies in the industry. The project will cover both seasonings for savoury applications and sweet flavours, with focus on customized products.
What to know about Cormart
Cormart Nigeria Ltd. is one of the leading chemical and food raw materials companies in Nigeria a member of the Tropical General Investments (TGI) Group, a global conglomerate with a majority of its investments based in emerging markets.
Since its inception in 1980, it has been on the forefront of production, importation, stocking and distribution of chemicals and other raw materials. It provides premium products and services across the paint, confectionaries, cosmetics, pharmaceutical, food and beverage industries. With cutting edge and cost effective products and solutions, Cormart represents the business interests of top multinational companies who wish to do business in Nigeria. Cormart is committed to the continuous increase of local production and expansion of product lines to meet emerging market demands.