-
The Effect Of Lease As A Means Of Procurement In Manufacturing Organization
CHAPTER ONE -- [Total Page(s) 4]
Page 3 of 4
-
-
-
The factory was established on a
site of approximately 0.41 hectres at 30. Henry car street, Ikeja,
where production of exercise books began. In 1966, the main market for
the books developed in the then Eastern Region of Nigeria but with the
outbreak of the civil war, that market was adversely affected. As the
financial situation of the company deteriorated, it was decided by the
two founders to sell their interest in the company to the following:
(1) CFAO (Nigeria) Limited.
(2) Ernst Kleft Druchken (Klett) a large and reputable printing publishing house in West Germany.
(3)
Interpart Gesellchaft fur International Beteiligungun Mbtt and CO KG
(Interpart), a printing consultancy company also in West Germany.
(4) DEG (a development bank wholly owned by the Federal Republic of Germany.
In
1970, it was decided that diversification was necessary and manufacture
of light cartons and packaging materials was introduced. This area at
the activities grew steadily and in 1975 it was decided that the
production facilities for exercise books be dropped and to concentrate
on packaging.
In 1976, a two phase development programme was
embarked upon at a cost of approximately N2.4 million. The second phase
of this programme was completed in 1979 and running in of new machine
commenced in March 1979. Recognizing the significant growth of consumers
packaging in Nigeria and the need to enhance working capital of the
company and further replace and modernize plant and machinery, the
company in 1979 decided to comply with the Nigerian enterprise promotion
degree of 1977. The company offered to the public for subscription
2,694,000 ordinary shares of 50k each. This was fully subscribed. Thus
the company assumed the status of public limited liability company with a
share capital of N2,245,000 representing 4,490,000 ordinary share of
50k each.
The company in September, 1989 offered to the
public for subscription of further 5,510,000 ordinary shares 7.50k each.
The proceeds from the second offer was used in the planned expansion of
acquiring gravure machine and a new site at plot B Israel Adebajo close
Ikeja. The company therefore moved to the new premises in 1982.
Business grew rapidly over the years and in July, 1991, the company at a
general meeting. Increased the authorized share capital from
N60,000,000 to N42,000,000.
CHAPTER ONE -- [Total Page(s) 4]
Page 3 of 4
-
-
ABSRACT - [ Total Page(s): 1 ]The essence of this research work is to investigate carefully the effects of lease as a means of procurement in manufacturing organizations. Some selected companies were used as a case study like the studio press Nigeria plc at Lagos and Aluminum extrusion industry plc. While carrying out this research work the researcher reviewed the extent to which some firms have availed themselves to leasing and the effect of lease in tackling the logistic and financial problems of these firms. It was also ... Continue reading---
