₦airaland Forum

Dangote-led consortium set to acquire Peugeot plant from AMCON


26 May 2017

The Asset Management Corporation of Nigeria is set to complete the sale of Peugeot Automobile Nigeria Limited (PAN) to a consortium of investors led by Aliko Dangote, Africa’s richest man.

Speaking in an interview with Reuters on Friday, Ahmed Kuru, AMCON’s CEO, said the ‘bad bank’ had concluded all processes regarding the sale, but it is awaiting approval from the Central Bank of Nigeria.

“We have concluded all process on the bids since about two months ago, all we are waiting for is the approval of the central bank,” Kuru said.

In January 2016, AMCON launched an auction to sell its 79.3 percent stake in PAN, which is a Kaduna-based joint venture with French automaker Peugeot Citroen. AMCON said PAN had assets of about N24.96 billion and equity of about N11.98 billion as of December 2014.

Dangote reportedly submitted a bid for the AMCON stake in partnership with the Kaduna and Kebbi state governments as well as the Bank of Industry, Governor Nasir El-Rufai said in March last year.

Kuru told Reuters that AMCON’s stake is worth over N15 billion, according to its latest valuation. He declined to name the company Dangote and his partners are using to acquire the automaker.

Founded in 1972 as joint venture between the federal government and Peugeot Citroen, PAN Nigeria was once the dominant car manufacturer in Nigeria with an annual production of 90,000 vehicles.

The company, however, ran into troubles after the government sold off its majority stake in 2006 and reduced its patronage. The company’s revenues declined from N30 billion in 2007 to less than N2 billion in 2013; while sales declined from 12,000 vehicles in 2007 to less than 1,000 vehicles in 2013, according to media reports.

DawatNama:
On the ANAMMCO part you lied for Africa
GUO Okeke is running ANAMMCO, ABC is building her vehicle assembly plant and PEACE Mass have started assembly on its Enugu plant.

I can confidently tell you that GUO owns ANAMMCO, in 2017 they assembled 500 Shacman Trucks for Dangote Group, I was there live.

Anamcco is even more than an assembly plant now, they are into vocational training as well with many students learning skills.

Frank Nneji of ABC Transport fame takes over ANAMMCO, to roll out 100 vehicles monthly
By News Express on 10/09/2014

The man who revolutionised luxury bus transportation in Nigeria has struck again. Frank Nneji, chairman and chief executive of ABC Transport Plc, has launched a bold move to revive the moribund heavy duty truck manufacturer, Anambra Motor Manufacturing Company (ANAMMCO).

ANAMMCO, located in Emene, Enugu, which has been moribund for several years, is being recalled to life by an assembly contract agreement it signed with Nneji’s Transit Support Services (TSS) Limited, reports BusinessDay.

According to the paper, “Sequel to the contract, TSS has acquired an assembly line in ANAMMCO and is set to commence full-scale heavy duty and articulated trucks assembly operations next month (October), a move that is expected to see the production of 100 trucks per month in the first phase.

“Coming barely one year after the introduction of the new automotive policy by the Federal Government, industry watchers say the commencement of assembly operations at ANAMMCO will lead to the revival of local component manufacturers in areas such as automotive batteries, lubricants, windscreen, clutch cables, mudguards, wiper blades, brake pads, automobile paints, component for tyres, etc.

“They add that it will also bring about possible creation of new spin-offs, encourage small and big foundries, as well as the nation’s iron and steel industry, and ultimately lead to creation of thousands of jobs, many of them for several previously disengaged skilled workers of ANAMMCO.

“The TSS/ANAMMCO deal comes on the heels of an earlier deal between TSS and Chinese commercial vehicles manufacturer, Shaanxi Heavy Duty Automobile Import and Export Company Limited, an Original Equipment Manufacturer (OEM), for the assembly of Shacman range of trucks in Nigeria.”

BusinessDay says it was told by Nneji, chairman and chief executive of TSS Limited, that the assembly plant was expected to have the capacity to produce an estimated 100 units of light and heavy duty trucks, tankers, lorries, tractor heads of up to 50 tonnes, tippers and concrete mixers for different applications.

“The 100 units are expected to be produced on one shift alone, with capacity to double the number on the back of demand and supply,” the report says, adding:

“Already, 12 automotive engineers from the Chinese Shacman trucks building company are expected to arrive in Enugu soon to set up the equipment in conformity with global standards.

“When fully operational, no fewer than 3,000 units of trucks will be produced annually at the plant, with likelihood of raising output to 4,000 or even higher.”

ANAMMCO Assembles Shacman Trucks

March 25, 2017 3:17 am

By Bennett Oghifo

ANAMMCO Limited, a leading motor company in Nigeria, recently resumed full production at its plant in Enugu, where it is assembling a range of Shacman trucks.

The cheery news has set off a wave of excitement in the automotive industry prompting analysts to consider the upsurge in production activities a boost to the Nigerian Automotive Industry Development Plan (NAIDP), which was designed with the major objectives of bringing back automotive assembly, developing local content and deepening technological knowhow.




Presently, no fewer than 50 heavy duty trucks are assembled every week at the plant located at the Emene Industrial Layout following a manufacturing agreement between Transit Support Services Limited {TSS}, a subsidiary of ABC Transport, and ANAMMCO, to utilise the assembly facility.

TSS is the official representative of Shacman, a Chinese brand, in Nigeria

It was learnt that with the return of increased production at the plant, majority of the technical staff who were kept on standby while skeletal operation lasted, have since been recalled, even as a number of the local content suppliers have been engaged to provide some of the needed components and accessories.

This was confirmed by the Managing Director of TSS, Mr. Frank Nneji, who also disclosed that many truck buyers, especially big corporate users like construction companies, haulage and logistics firms and cement manufacturers, have realised that Shacman has an edge over competitors in terms of price-quality comparison.

“Shacman is the best truck brand from the Chinese auto industry”, he stressed.”That is what many of the companies that used the trucks and trailer heads are coming back to us with large orders, with the result that the ANAMMCO plant is bursting again”

Nneji described Shacman trucks as very strong and highly dependable vehicles, disclosing that the technology was originally MAN Diesel. “I have always made it clear that Shacman is a Chinese brand with European DNA”

With an installed capacity of about 7, 500 trucks per annum {in a single shift} at the time of commissioning the plant in 1980, ANAMMCO dominated the truck and bus market for many years until an interplay of unfavourable factors led to a dip in its fortunes, and subsequent privatisation in 2007.

However, as the automotive policy formally took effect on July 1, 2014, having been approved the year before by the Federal Executive Council, industry watchers were optimistic that it would not take long before normal production would return to ANAMMCO.

It was therefore no surprise that encouraged by the policy, TSS commenced the production of Shacman at ANAMMCO, leading to the roll-out of the first batch of the heavy duty trucks and trailer heads in 2014.

It was learnt that the volume of production had continued to rise gradually till a few months ago when orders for hundreds of Shacman trucks were placed by a couple of big corporate customers that opted for Shacman after a comparative analysis of various products from competing brands.

A team of visiting journalists observed recently that hundreds of the trucks were being branded at ANAMMCO premises with some of them bearing the name and logo of the Dangote Group.



A part of the Shaanxi Automobile Group Co. Ltd, China {which has over 45 years of manufacturing experience and remains one of the leading automobile manufacturers in China}, Shacman has in the past four decades evolved into one of China’s domestic large-scale automobile enterprise groups with over 33,000 employees.

It is ranked number 24 among Chinese top 500 mechanical enterprises. Shacman also engages mainly in development, manufacture and sales of off-road vehicles, heavy-duty trucks, medium-duty, large and medium-sized coaches, medium and light-duty trucks, minivan, new energy vehicles, heavy-duty axles, light axles, Cummins engines and automobile components.

BluntBoy:
Lateef looks all grown up

The last time I saw him in 2015 or so, he was very small.

dumo1:
Nice one. Thanks for furnishing us with the detailed info.

docadams:
A good update.

Adama Tamba and Penda Bah top Gambia squad for Super Falcons clash

Samuel Ahmadu


The Red Scorpions duo were listed by gaffer but Sweden-based Fatoumatta Gassama was dropped for the clash with the reigning African queens




Gambia's senior women national team have announced the final 21-woman squad without Fatoumatta Gassama for next week's African Women's Nations Cup qualifier against Nigeria.

The Sweden-based star, who plays for Orebro was left out of the Queen Scorpions team after failing to impress in the 5-2 friendly's aggregate loss to Mali last month in Bakau.

But to ease qualification's worries, coach Mariama Sowe has invited midfielder Benda Bah and Adama Tamba for the clash against the reigning African champions.

The squad made up of two goalkeepers, seven defenders, six midfielders and six strikers had since commenced final preparations for camping at the Gambia Football Hotel, Yundum.

The Scorpions overcame Burkina Faso in the opening round on away-goal rule after a 3-3 aggregate score and must edge past holders to advance from the final qualifying stage.

They will host the first leg billed for Banjul's Independent Stadium on Wednesday, June 6, before the return leg on Monday, June 11, 2018.

An aggregate win over the Super Falcons will see the Gambia qualify for the first time for the international event billed for Ghana from November 17 to December 1, 2018.


GAMBIA FULL SQUAD

Goalkeepers – Aminata Gaye, Mariama Ceesay

Defenders: Ruggy Joof, Amie Jarju, Awa Jawo, Mama Saidy, Clara Gomez, Mamie Sylva, Nenneh Jallow

Midfielders: Penda Bah, Metta Sanneh, Ajara Samba, Awa Tamba, Binta Colley, Jabou Jobarteh

Forwards: Adama Tamba, Isatou Jallow, Mam Drammeh, Fanta Jarju, Aminata Camara, and Fatou Darboe.

AWCON Qualifiers: Oshoala, Oparanozie, 17 Other Super Falcons Off To Gambia On Monday

June 3, 2018 8:56 pm

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Nigeria’s Super Falcons, including stars Asisat Oshoala, Desire Oparanozie and Francesca Ordega, are scheduled to fly out on Monday to Banjul, capital of Gambia, for the first leg of their 2018 Women Africa Cup of Nations qualifying fixture against the Gambia.

The Gambians defeated Burkina Faso in the earlier round as eight-time champions Nigeria drew bye.

The first leg is billed for Wednesday at the Independence Stadium in Bakau, a short distance from Banjul.

NFF’s Head of Women’s Football, Ruth David, told thenff.com that the Falcons’ delegation will fly aboard an Air Peace aircraft from Lagos on Monday morning, to arrive Banjul by 11am. The team left Abuja for Lagos on Sunday night.

The return leg will take place at the Agege Stadium, Lagos on Monday, 11th June. The fixture is the last qualifying round for the 11th Women Africa Cup of Nations taking place in Ghana later in the year.

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THE 20 PLAYERS FOR GAMBIA
Osarenoma Igbinovia, Joy Jegede, Christy Ohiaeriaku, Amarachi Okoronkwo, Tochukwu Oluehi, Glory Ogbonna, Josephine Chukwunonye, Ngozi Ebere, Anam Imo, Alaba Jonathan, Esther Sunday, Onome Ebi, Faith Michael, Halimat Ayinde, Ngozi Okobi, Chinaza Uchendu, Asisat Oshoala, Desire Oparanozie, Francisca Ordega, Christy Ucheibe

mrtayesynchro:
Pls what's the LRU emergency dial

Ishilove:
The figure is an hyperbole, darling, to emphasise the need for a realistic number of buses to replace the Danfos.

We need nothing less than 20,000 buses to be able to deal with the transport needs of Lagos inhabitants

Ishilove:
Naptu2