Ports & Cargo Commissions $20m Handling Equipment, Targets 300% Revenue Increase In Five Years

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As a way of positioning itself as a first-choice terminal for importers, exporters and shippers in Nigeria and West Africa as a whole, Ports & Cargo Handling Services Limited, the flagship company of SIFAX Group, has acquired some new equipment worth over twenty million dollars, even as the company targets 300% increase in revenue within the next five years.

The new equipment acquired are 5 shore cranes, 9 Reach Stackers, 10 terminal tractors, 5 Nissan pickup vehicles, 4 trailer backs and other machineries.

At the commissioning of the new equipment in Lagos on Monday, Mr. Adekunle Oyinloye, Group Managing Director, SIFAX Group hinted that the acquisition was part of the company’s strategic investment to deliver quality service to its clientele and to further attract more patronage.

“With our new internal restucturing project code named Quantuam Leap, SIFAX Group is respositioning itself to become the first choice terminal not just in Nigeria but in West Africa. We have also set a target that will increase our revenue with over 300% in five years. One of the ways, we can achieve our set targets is to first begin with investment in equipment which will complement our excellent personnel asset. These new equipment are the best and latest in town, they will catapult us into the next level growth we are working towards”, he noted.

While welcoming the guests, Mr. John Jenkins, Managing Director, Ports & Cargo Handling Services Limited, said there was a need to acquire the latest equipment in order to meet the architecture requirements of modern ship calling the terminal.

He further noted that the company was already engaging several shipping lines in order to boost the company’s clientele base.

Also in her remarks, Aisha Ali Ibrahim, Assistant General Manager, Operations, who represented Hadiza Bala-Usman, Managing Director, Nigerian Ports Authority, expressed delight at the new acquisition, adding that it was a thing of joy that an indigenous company, Ports & Cargo Handling Services Limited, is competing favourably with foreign multinationals in the maritime sector in terms of investment, manpower and quality of service delivery

On his own, Andrew Lynch, Managing Director, Mediterranean Shipping Company (MSC), Nigeria, one of the world’s foremost shipping lines also congratulated Ports & Cargo on the acquisition of these equipment. Lynch explained that the partnership between Ports & Cargo and MSC will be better forged with the acquisition of these equipment.

He said: “Ports & Cargo and MSC have both forged an alliance which has been one of the best partnerships in the maritime sector. We are excited that these new equipment will enhance the discharge of more cargo volumes at the terminal”.

Also speaking, Norman Herzberg, Sales Manager, Africa, for Lierherr Group, his company is delighted to be the partner in the supply of some of these equipment. He noted that the newly-acquired mobile shore cranes LHM 500 are the latest technologies with wider reach into the vessels and can discharge faster effectively and efficiently.

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