Union Dicon Salt plc continues implementation of transformation strategy

In furtherance of the transformation strategy approved by its board of directors, to become a fully integrated Agro Industrial National champion, the management of Union Dicon Salt Plc (UDS Plc), has signed terms for another investment in the Agro Industrial sector.

In addition to its earlier agreement for its land acquisition of 15,000 Hectares of land in Edo State, this investment will add 2,000 Hectares to its land portfolio, and make UDS Plc the largest Cassava producer in Nigeria.

This transaction will ensure security of feedstock supply, as UDS Plc moves ahead in establishing its Cassava processing facilities in Edo & Delta State. It will also fulfil management’s commitment to become cash flow positive before the end of 2016.

Union Dicon Salt Plc operates in the Nigerian Consumer Goods Section and was established in 1984. Union Dicon Salt Plc was until a few years ago, the largest producer of salt in Nigeria. Following board and shareholder approval, it has been diversifying into the Agro Industrial Sector, with an initial concentration of Cassava, and Starch processing.

UDS Plc has finalised agreement with GEA Westphalia of Germany to build the largest industrial starch processing facility in Nigeria.