Transcorp Agric Subsidiary Invests In International Grade Extraction Cup
BEVERLY HILLS, July 15, (THEWILL) – Transnational Corporation of Nigeria Plc (Transcorp) announced Wednesday that its agribusiness subsidiary, Teragro Commodities Limited, has acquired and installed extraction cup technology, instantly enabling the company to deliver superior quality juice concentrate that meet international quality standards.
“The extraction cup revolutionises our production process and ensures that concentrates we produce will pass even the most stringent international standards,” Teragro CEO, Dupe Olusola, said.
“This investment elevates us to the top of local concentrate producers and ensures that Teragro is able to compete with any international concentrate producer from Spain, Brazil, the United States and more.”
Teragro processes orange and pineapple concentrates, mango purées and orange-peel oil for industrial markets in a 26,500mn TPA capacity plant called Teragro Benfruit Plant in Benue State.
In addition to helping Teragro products meet international quality standards through tests conducted in International labs in Brussels and France, the new technology increases the capacity of Benfruit Plant.
Transcorp Plc CEO, Emmanuel N. Nnorom, stressed the importance of this investment for Teragro, saying, “We have received positive commendation from our biggest customers. The acquisition represents a clear commitment to meeting their requirements and ensuring that the country's largest beverage manufacturers have local suppliers with the highest quality products on offer.”
Teragro, in a statement, said it is committed to alleviating poverty, creating employment and economic growth through investment in agriculture. The company recently signed a memorandum of understanding (MoU) with the Benue State Government to lease land to establish citrus farms with improved varieties of citrus fruitsand to diversify crops. In addition, it continues to invest in capacity building for farmers as part of its Africapitalist commitment to doing well for investors, while doing good for the community.
Teragro Commodities Limited is the agribusiness subsidiary of Transnational Corporation of Nigeria Plc. It leverages on advanced technology in food processing to produce high quality agricultural products including orange and pineapple concentrates, mango purees and orange peel oil for industrial markets.
Transcorp is a leading diversified conglomerate focusing on acquiring and managing strategic businesses that create long-term shareholder returns and socio-economic impact. Its business interests are in four strategic sectors: Power, Oil & Gas, Hospitality and Agriculture. Transcorp has a shareholder base of about 300,000 investors, the largest of which is Heirs Holdings Limited, an African proprietary investment company.