Shoreline Acquires Majority Stake In Nigerian Ropes Plc
Shoreline Energy International, the leading Infrastructure and Energy Group focused on Sub-Saharan Africa, acquires majority stake in Nigerian Ropes PLC.
The acquisition heralds Shoreline entry into the wire ropes market in Sub-Saharan Africa.
Speaking in Lagos, Kola Karim CEO of Shoreline Energy international said “This is a very exciting acquisition;
Responding to questions, Mr Karim added “Our teams have already begun work on expansion plans for the business to expand into the cable manufacturing business to service the power, telecommunication and electrical sectors including manufacturing plants and distribution facilities across the continent. We expect to begin to execute on a growth strategy of building an integrated wire and cable business that anticipates strong organic growth coupled with an acquisition program in the next 2 quarters.”
“We are pleased to join the world class management team at Shoreline through this acquisition”
Shoreline is a leading Energy and Infrastructure Group operating in Africa. Shoreline has grown rapidly through acquisition. Recent acquisitions:
About Nigerian Ropes Plc:
Nigerian Ropes PLC was incorporated in Nigeria in March 1960, as an associated member Company of BRIDON PLC, the world leader in all aspect of ropes and cordage technology. Nigerian Ropes PLC manufactures a wide range of fibre, manila and steel wire ropes conforming to international standards. It’s products are certified by the, Bureau Veritas, Lloyd’s Register of Shipping and the Nigerian Standard Organization and are use in the oil and gas services, marine , construction sectors amongst others.