Flour Mills increases its stake in ROM Oil to 95%

Flour Mills increases its stake in ROM Oil to 95%

Flour Mills of Nigeria Group said it has increased its shareholding in one of its subsidiaries, Rom Oil Mills Limited (ROM), Ibadan, from 90% to 95%. With this development, the Shahimi family collectively own 5% minority shares in the equity of ROM.

The decision to increase the shareholdings in Rom Oil Mills was informed by Flour Mills’ strategy of continually investing in the development of quality foods and agro-allied products for its consumers. The Group had in November, 2014 announced the commissioning of the most modern fully automated edible oil refinery and margarine plant built in Sub Sahara Africa by ROM Oil Mills Limited (ROM Oil).

The ‘world class’ Ultra-Modern Plant being part of FMN Group’s expansion plans for ROM Oil has the following installed capacities:

1. A 500 TPD universal Refinery Plant. 2. A 500 TPD Soya Beans Seeds Extraction Plant. 3. A 100 TPD fractionation Plant. 4. A 50 TPD Margarine with Packaging Plant (in various pack sizes). 5. A100 TPD Vegetable Oil Bottling Plant (in various pack sizes).

CHAIRMAN! G.S.Ceumeetores (L1.S.A). VICE CHAIRMEN; J.G. Coumantaros (U.S.Al. Dr. (Chief) E.A. Ukoabi

ABOUT ROM OIL MILLS LIMITED

FMN was incorporated in September 1960 as a private limited liability company and has been serving the needs of generations of Nigerians ever since. In 1978, FMN became a public limited liability company and its shares were subsequently listed on The Nigerian Stock Exchange.

FMN’s interest in becoming the nation’s leading food business company is furthered by entities operating in agriculture, livestock feed and pasta manufacturing. As such, the collective clout of FMN stands poised to help achieve the company’s objectives whilst simultaneously improving lives.

With over twelve thousand full and part-time employees, we are steering the green revolution in Nigeria with the use of locally sourced materials to develop and produce unique consumer products for local markets. This strategy is reducing dependence on imported raw materials and creating value for businesses, consumers and the country at large.