BERGER PAINTS: WEAK SALES, EARNINGS CAN'T SUPPORT PRICE RALLY
Berger Paints Nigeria Plc was established as British Paints West Africa Limited on January 9, 1959 and commenced business in 1961 after two years of preparation by importing paints from its principle partners in the United Kingdom for sale in Nigeria. In March 1962, Berger commissioned its first factory in Lagos, which was the first paints factory in Nigeria. The company was also the first paints manufacturer to be listed on the Nigeria Stock Exchange on March 14, 1974. It grew through several phases to achieve its current state. In 2012, Berger Paints Nigeria Plc entered into a partnership arrangement with the biggest paint company in South Korea, KCC to jointly serve the Nigerian paint and coating market. However, his move by the company has not bettered its performance, with its sales and earnings power relatively weak. Berger Paints Nigeria PLC Share Holding Structure CAB/Oversees Holdings Ltd, UK 11.26% Other Niger