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After $8m investment, Lexsz breaks new ground in plastics, recycling

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After investing $8 million to acquire over 40,000 square metres of land along Lagos-Ibadan Expressway in 2011, Lexsz Plastics Limited has broken new ground in plastic industry and waste recycling, becoming one of West Africa’s leading players.

Oba Olufemi Akowe, executive director of Lexsz Plastics Limited, said at a press conference in Lagos that the company employs over 400 Nigerians and has passed the ISO9001 quality management system certification for advanced production equipment and sound management system.

He said the company has four production lines that refine and process wastes and plastics for the entire West Africa.

Akowe explained that since the company started operations in 2011 in the country, it has relied majorly on waste supply from individuals, government agencies, clean dumping sites and its own waste as raw materials for recycling.

Most of the materials recycled are PET bottles.

“The production scale of PET bottles and preforms per year amounts to over 100,000 tonnes to meet the major chemical company, Yangtze River Delta Region of China enterprises’ demand for a large number of raw materials,” he said.

The executive director explained that the firm, which was established in 2003 in Yemen capital of Sanaa, generates its own electricity and has produced successful start-ups in waste collections.

“We have, since we started, developed a robust partnership with private sector operators involved in packing and clearing domestic wastes from the cities and villages,” he said.

He pointed out that the introduction of the company’s domestic production equipment has enabled it to create production lines for West Africa’s largest plastics recycling and processing enterprises.

The PET bottle stands out as one of the most dynamic pack formats in the retail packaging marketplace, particularly in its stronghold of soft drinks where it accounts for 77 percent of all packaging unit volume gains over 2004-2009, according to the Euromonitor International.

Waste-to-wealth recycling is gaining traction both locally and internationally. Currently, the company recycles and exports, earning foreign exchange from it, but it is now looking inwards to support Nigeria’s manufacturing landscape.

“We recycle and export to China,” he disclosed. “We are dealing basically in fibre materials and are working on making them available as raw materials to local companies, especially textile firms,” he stated.

The company, based in Ogun State, serves the surrounding states covering a broad range of features and numerous recycling sites in the areas.

“The company’s products not only save a lot of energy and resources, but they are effective for environmental protection in Lagos,” Akowe said.

He further explained that the firm has created millions of opportunities for the country to earn foreign exchange and create jobs for numberless unemployed Nigerians.

He urged the governments of Lagos and Ogun to create the convivial atmosphere for businesses to thrive.

“We have been critical stakeholders to Lagos State Lagos Waste Management Authority, Ogun State Environmental Agency as well as Osun State,” he said.

He explained that his company contributes to the economy by paying taxes to both federal and state governments without default, adding that it will now be focusing its attention on other key areas.

“At Lexsz Plastics, the growth and development of the Nigerian plastics is our concern,” he said.

“There is nothing wrong with becoming the major market leader in this sector. We believe strongly in the growth and development of the Nigerian economy and we are poised to take advantage of the potential in this market,” he added.

 

ODINAKA ANUDU

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