Business
PHARMACEUTICAL Manufacturer, May & Baker Nigeria Plc (M&B) on Thursday re-launched Lily premium water produced by its water production subsidiary to boost market share.
Sen. Daisy Danjuma, Chairman, Board of Directors, May & Baker, inaugurated the water project on the sidelines of the 73rd Annual General Meeting (AGM) of the company in Lagos.
Danjuma commended the pharmaceutical company for still being able to produce such quality water in spite of the economic challenges confronting the country and in commemoration of the company’s 80th Anniversary.
“We are proud that in commemoration of our 80th Anniversary, we now manufacture our own water.
“The initial production of the water was contract manufactured, but now we are manufacturing it in our premises. With the re-launch, the shape of the water’s bottle and the logo have been changed,” she said.
According to her, the fact that May & Baker is a pharmaceutical company boosts customers’ confidence to buy and consume Lily water.
Mr Patrick Ajah, Managing Director of the company, also expressed excitement on the feat, noting that the production was aimed at meeting consumers’ requirements.
Ajah confirmed that presently the company had spent not less than N700 million to set up the water plant, and was still investing more funds to upgrade the facilities on ground.
He said that the plant had the capacity to fill at least 40,000 bottles daily, while the blowing line could do about 12,000 bottles daily.
According to him, efforts are ongoing to extend the bottle blowing to at least do not less than 30,000 bottles daily before the end of the year.
“As a pharmaceutical company, we understand how to treat water without adding chemicals to it. Our water is treated using the water treatment plant without adding chemical to it.
“Lily water is registered by NAFDAC and its production is balanced based on the official requirement of the agency and other regulatory authorities,” he said.
The managing director expressed optimism that with the investment and increase in the capacity of its water production subsidiary, the Lily water company would contribute its quota of profit to the parent company henceforth.
He said that this would in turn affect the bottom and top line of the company positively.
Commenting, Dr Jimoh Olanrewaju, Business Manager For Lily Water, said that the re-launch of the premium water was geared to add more value to the company, having existed for more than 21 years.
Olanrewaju expressed confidence that the rebranded water would open new opportunities for the company in the water production market, as it geared up to becoming the leading water production company in the industry.
He stated that the water company was presently distributing within Lagos and Ogun states environs, adding that it was, however, working towards expanding its visibility and reaching other states across the country. (NAN)
F.A
June 7, 2024
Tags: Boost Market share Lily Water May & Baker
