SIFAX Group Launches New Equipment,Targets 300% Revenue For Five Years

Concessionaire at Tin Can Island Port Complex,  Ports and Cargo Handling Services Limited, the flagship company of SIFAX Group, has acquired new equipment worth over twenty million dollars to boost port operations and service delivery.

Speaking at the commissioning of the new equipment in Lagos, Mr. Adekunle Oyinloye, Group Managing Director, SIFAX Group, stated that conglomerate has estimated a whooping 300% revenue increase target for five years, in a view to improve on its service delivery.

Oyinloye noted that the acquisition was part of the company’s strategic investment to deliver quality service to its clientele and to further attract more patronage.

The GMD said: “With our new internal restructuring project code named Quantuam Leap, SIFAX Group is repositioning 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 said.

Mr. John Jenkins, Managing Director, Ports & Cargo Handling Services Limited, in his remark, said there was  need to acquire the latest equipment in order to meet the architecture requirements of modern ship calling the facility.

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

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, Norman Herzberg, Sales Manager, Liebherr Group, Africa said the 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.

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