• Thursday, May 23, 2024
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Tripple Gee unveils new printing press, eyes expansion

Tripple Gee unveils new printing press, eyes expansion

Tripple Gee and Company Plc, a manufacturer of paper and packaging products, has unveiled a new printing press, called 11-colour Nilpeter Flexo Press, aimed at revolutionising printing in Nigeria.

The company said it acquired the 11-colour Nilpeter Flexo Press with financial support from Providus Bank and the Bank of Industry, in a bid to consolidate its areas of strength, expand into new areas and continue to satisfy customers and deliver good returns to shareholders.

Speaking at the unveiling ceremony in Lagos, Adebimpe Giwa, group managing director of Tripple Gee and Company, said, “With the new printing press, the company has the needed impetus to launch into new areas of flexible printing.

“This will definitely improve our delivery timelines and response time to our esteemed clients, assure of better and more consistent quality outputs and in turn have a positive effect on our turnover as a company.”

Sam Ayininuola, chairman, board of directors of Tripple Gee, described the 11-colour Nilpeter Flexo Press as the first of its kind in the country and second on the African continent.

He said: “It stands out in terms of speed, quality and the variety of substance it can print. It runs at an average speed of 200 meters/minute, which is quite significant for the quality of output produced.

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“It offers top-of-the-range technologies for colour matching, registration and other print processes. It reduces wastages on operation while conversely increasing outputs with significantly improved material yield ultimately increasing our combined capacity to meet client’s request.”

According to Ayininuola, the printing press is one of the ways of improving the need and also surpassing the need of the company’s customers.

“This was actually underscored by our international recognition by The Financial Times, which listed us as one of Africa’s fastest growing companies in 2022,” he added.

Olugbemi Malomo, president and chairman of council at Chartered Institute of Professional Printers of Nigeria, commended the company for the new printing press.

“The new printing press by Tripple Gee would boost the efforts of the institute to ensure printing jobs are not taken out of Nigeria anymore and to further professionalise the printing industry,” Malomo said.

Tripple Gee was listed among the fastest-growing companies in Africa by the Financial Times. It was one of the 21 companies in Nigeria that made the list.

Covering the period between 2017 and 2020, while taking the COVID-19 pandemic into consideration and highlighting the companies that successfully adapted to the resultant challenges, the FT’s ranking showed the company’s absolute growth rate of 170.142 percent and a compound annual growth rate of 39.272 percent.

Tripple Gee’s revenue stood at $5.584 million in 2020, up from N2.428 million in 2017, as reported by FT.

Tripple Gee is a manufacturer of financial instruments, secure and commercial documents, labels, and flexible packaging materials with a range of products and services that are instrumental across industry sectors, from banking, government regulatory bodies, and oil and gas to pharmaceuticals and FMCG manufacturers.