10/8/2004 THIS DAY (NIGERIA) - AAGM via NewsEdge Corporation : Chairman ofDoyin Group of Companies, Prince Samuel Adedoyin, has said that one of thecompany's subsidiaries, Consolidated Foods and Beverages Limited, wasproducing at below 10 per cent of the factory's installed capacity.
Adedoyin who said this when the Minister of Industries, Alhaji MogajiMohammed, paid a working visit to the factory of CFBL, said it was heartrendering that the factory could not produce at full capacity owing toshortage of raw materials.
According to a news release from CFBL, Adedoyin, who was represented bythe General Manager of the subsidiary, Mr. Moses Akande, said, "The rawmaterials for our refinery, which is mainly palm oil has been very scarceand as a result, we could not operate the refinery at full capacity.
"The capacity utilisation is less than 10 per cent. Our company is capableof producing Emulsifier (MPG) requirement for the nation if we haveadequate supply of palm oil at reasonable cost.
"The government has banned the importation of palm oil products and thelocal production is inadequate.The available ones are very costly due tohigh demand for the product."