Transcorp Plc Agribusiness Subsidiary Invests In International Grade Extraction Cup
Transnational Corporation of Nigeria Plc (Transcorp) announced yesterday that its agribusiness subsidiary Teragro Commodities Limited has acquired and installed extraction cup technology, instantly enabling the company to deliver superior quality juice concentrate that meet international quality standards.
“The extraction cup revolutionizes our production process and ensures that concentrates we produce will pass even the most stringent international standards,” Teragro CEO Dupe Olusola said. “This investment elevates us to the top of local concentrate producers and ensures that Teragro is able to compete with any international concentrate producer from Spain, Brazil, the United States and more.”
Teragro processes orange and pineapple concentrates, mango purées and orange-peel oil for industrial markets in a 26,500mn TPA capacity plant called Teragro Benfruit Plant in Benue State.
In addition to helping Teragro products meet international quality standards through tests conducted in International labs in Brussels and France, the new technology increases the capacity of Benfruit Plant.
Transcorp Plc CEO Emmanuel N. Nnorom stressed the importance of this investment for Teragro, saying, “We have received positive commendation from our biggest customers. The acquisition represents a clear commitment to meeting their requirements and ensuring that the country’s largest beverage manufacturers have local suppliers with the highest quality products on offer.”
Teragro is committed to alleviating poverty, creating employment and economic growth through investment in agriculture. The company recently signed a memorandum of understanding (MoU) with the Benue State government to lease land to establish citrus farms with improved varieties of citrus fruits and to diversify crops. In addition, it continues to invest in capacity building for farmers as part of its Africapitalist commitment to doing well for investors, while doing good for the community.