|
Our Corporate Profile Chemical and Allied Products plc evolved from the world-renowned British multinational Imperial Chemical Following the promulgation of the first and second Indigenisation Decrees in 1972 and 1977, ICI Nigeria Limited at first sold 40 percent but later 60 percent of its share capital to the Nigerian public, and went further to change its name by a special resolution of the shareholders to Chemical and Allied Products Limited (CAPL) in the spirit of indigenisation. In 1991, the ‘Limited’ appellation was dropped for ‘Plc’ in compliance with the provision of the Companies and Allied Matters Act of 1990. In 1992, ICI Nigeria Limited finally disposed of its minority 40% shareholding in CAP plc when it sold 35.7% of the equity to UAC of Nigeria Plc and the rest to the Nigerian public on the floor of the Nigeria Stock Exchange. Today, CAP plc is a Nigerian Company operating in Coatings Business. CAP Plc, a fully owned Nigerian Company is a participant of the U.N Global Compact initiative. A winner of the Nigerian Stock Exchange merit award (2006) and has retained the Pearl award for sector leadership in Chemical and Paints from 2004 to date.
|
|
||||||||||
|
|||||||||||
Industries plc, which formalized its Nigerian operations in 1957 under ICI Exports Limited. In 1962, ICI Paints was also incorporated to manufacture Dulux paints. In 1965, ICI Exports Limited changed its name to ICI Nigeria Limited and in 1968 it subsumed the paints company.
