Flour Mills of Nigeria Plc was incorporated in September 1960 as a private limited liability company, and after commenced operations in 1962 with an installed capacity of 600 metric tons per day. In 1978, the Company was however converted to a public limited liability company, and its shares were subsequently listed on The Nigerian Stock Exchange Board on the 14th August, 1979.
In its 54 year history in the market, Flour Mills has remained at the forefront of wheat milling in Nigeria. The Company’s flagship brand, Golden Penny, remains one of the best known and the preferred brands amongst bakers, confectioneries and consumers in Nigeria. Flour Mills has invested over N25billion in milling infrastructure over the last seven years, to maintain its competitive advantage. Today, Flour Mills has a rated milling capacity of over 8,000 metric tons per day, making it one of the largest single site mills in the world.
The Company’s flagship mill located in Apapa, Lagos comprises of 16 integrated mills. Each mill was designed as a multilevel operation in order to optimize the use of gravity in the sifting process, thereby reducing the energy requirements. In addition, the Company maintains dedicated mills to the processing of different wheat varieties to produce different flour types. This has ensured consistent quality of its products for 50 years. The Apapa Mill also boasts of modern silos with a storage capacity to 191,000 metric tons.
Flour Mills has also made significant investments in power generation. The Company has 11 General Electric (GE) Jenbacher gas generators at its Apapa Mills, with a combined capacity of 30 megawatts, with its long term plan to be a major player in the power industry. This has enabled the company to reduce the occurrence of production stoppages. In addition, the Company has a 30megawatt diesel plant at the same site to act as a backup in the event of any shortage of feedstock to the gas generators.
As part of its diversification strategy, FMN commissioned a Sugar Refinery of international standards, a Vegetable oil and margarine facility and also entered the snacks category. The Company engages in the importation and distribution of high grade fertilizer While in a bid to decrease their own packaging cost and provide valuable products to the Nigerian market as a whole, FMN has taken a 70% stake in BAGCO, one of the largest suppliers of industrial sacks to many industrial and agro- allied companies in Nigeria. It is noteworthy, that FMN runs profitably, a series of support or auxiliary businesses such as Golden Transport, which operates more than 500 trucks and the Apapa Bulk Terminal, which handles over 3 million MT of bulk cargo per annum. Such businesses, in addition to being viable and profitable in their own right, give FMN a tremendous competitive advantage in terms of agility, efficiency, and service delivery.
In addition to these ventures, FMN’s interest in becoming the nation’s dominant food business company is furthered by entities operating in agriculture, livestock feed and pasta manufacturing. As such, the collective clout of Flour Mills of Nigeria stands poised to help achieve the company’s objectives whilst simultaneously improving the lives of untold numbers of Nigerians, employees and consumers alike.
Flour Mills Of Nigeria Plc Products In The Market
- Golden Penny Flour
- Golden Penny Ball Food And Cereal
- Golden Penny Pasta And Noodles
- Golden Sugar Company
- Golden Penny Vegetable Oil & Margarine
- Golden Fertilizer
- FMN Agro Allied
- Bagco Total Package Solution
Flour Mills Of Nigeria Plc Office Address And The Board Of Directors
|Company Name||Flour Mills Nigeria Plc|
|Head Office||1,Golden Penny Place,
Wharf Road, Apapa, Lagos
Website: www.fmnplc.com .
|Nature of Business||Flour Milling, Pasta Production, etc|
|Date Listed on Exchange||14th August, 1979|
|Directors||Mr. John G. Coumantaros (Chairman)
Mr. George S. Coumantaros (Founder/Chairman Emeritus)
Dr. (Chief) Emmanuel A. Ukpabi (Vice Chairman)
Mr. Paul Gbededo (Group MD)
Alhaji Abdullah A. Abba
Chief James O. Fagbemi
Prof. Jerry Gana
Alhaji Rabiu M. Gwarzo, OON
Mr. John Katsaounis
Mr. Thanassis Mazarakis
Mr. Atedo N.A Peterside, CON
Mr. F. O. Philips
Alhaji Y. Olalekan A. Saliu
Mr. Folarin R. A Williams Jnr. SAN
Mr. Alfonso Garate
|Company Secretary||Alhaji Olalekan Saliu|
|Auditors||Akintola Williams Deloitte
235 Ikorodu Road
Tel: 01-234-4930720 – 4
|Company Registrars||The Flour Mills Registrar Limited,
c/o Nigerian Bag Manufacturing Co. Ltd.
45, Eric Moore Road,
P. O. Box 341, Apapa
|End of Accounting Year||31st March|