The Chairman of DN Meyer Plc, Sir Remi Omotosho, said the company has taken steps towards making DNM Construction Limited a full fledged subsidiary of DN Meyer Plc.
He said DN Meyer will further explore the synergy of DNM Construction with DN Meyer’s paint lines, adding all the required structures are being strengthened and put in place to facilitate the realisation of this goal.
Speaking in Lagos during the Annual General Meeting of the company, Omotosho said DN Meyer will continue to focus on meeting its shareholders expectations and demands, pointing out that the company remains in the forefront of its industry sector with innovative products offerings and excellent customer’s services.
The DN Meyer chairman explained as part of the company’s effort to remain responsive to the needs of its consumers, that new product, including the wall creed (POP) was introduced to the market last year.
Omotosho disclosed that the product has been well received by the market, with the demand for it growing and promising, adding the development represents a significant milestone which will further secure the company’s future and its potential to continue to create value for the shareholders and all stakeholders.
According to him, the company also reintroduced the Beautify Nigeria Paint (BENIP), which is an offering to satisfy the low end of the market.
On challenges facing the company and the business environment, he said the business operating was year tough, considering that the partial removal of subsidy on petrol and increase in food prices, alongside the flooding of parts of the country led to a rise in inflation to 11.9 percent from 10.9 percent.