The Board of Directors of Julius Berger Nigeria Plc said it has resolved to establish a wholly owned subsidiary company in Benin Republic as part of business expansion initiative.
It added that the company will be engaged in the business of planning and construction of all kinds of civil and engineering works in the neighbouring West African country.
According to the Company Secretary, Mrs. Cecilia Ekanem Madueke, the Board approved the establishment of the subsidiary company situated in Cotonou and appointed Mr. Christophe Fierens as the Resident Executive Director.
In a notification to the Nigerian Exchange Limited on Monday, the company said the move will enable it respond to the emerging business opportunities in the Republic and its environs.
“Julius Berger Nigeria Plc (Julius Berger”) wishes to notify its Shareholders, Nigerian Exchange Limited (“The Exchange”) and the investing public that its wholly owned subsidiary, Julius Berger Investments Limited (“JBIL”), has resolved to establish, incorporate, and register a wholly owned subsidiary company, limited by shares, under the provisions of the laws of Benin Republic (“the Republic”) to carry on the business of planning and construction of all kinds of civil and engineering works in the Republic. The establishment of this subsidiary would enable Julius Berger to be responsive to the emerging business opportunities, in the Republic and environs.
“The Board of JBIL approved the establishment of the subsidiary company to be situated at plot 3251, les Cocotiers, Cotonou, Benin and the appointments of Mr. Christophe Fierens as the Resident Executive Director, Engr. Goni Musa Sheikh and Mr. Jochen Stolle as the Non-Executive Directors and Mrs. Cecilia Ekanem Madueke as the Company Secretary,” the statement reads.