Cutix Plc has assured its shareholders and investors that their investments will yield higher returns.
The indigenously promoted company has kicked off activities to commemorate its 40th anniversary under the theme ’40 Years of Striving for a Commonwealth.’
Mrs. Ijeoma Oduonye, the company’s managing director and chief executive officer, stated that the anniversary theme was specifically designed to highlight the company’s consistently improving returns to stakeholders since its inception.
According to Oduonye, Cutix Plc celebrated four decades of operation as a company on November 4, 2022.
Going down the memory lane, she said, the company was conceived in 1981 by Engr. (Dr.) Ajulu Uzodike and was incorporated on November 4, 1982 as a Private Limited Company with about 18 friends and relations invited by the founder to pull resources together and generate a start-up capital of about N400, 000.
She said the company has braved all odds to add tremendous value to a commonwealth pool shared by all stakeholders of Cutix, including shareholders, board of directors, management staff, other staff members, the government, customers, neighbours and the general public.
The CEO said Cutix Plc, known for the exclusive quality of its cables and wires, has continued to blaze the trail in the manufacturing sector amidst the over-the-roof challenges bedeviling the sector in Nigeria.
She listed some of the challenges faced by the company over the years to include; unstable government policies, multiple taxation, poor infrastructure, difficulty in sourcing raw materials due to high rates of foreign exchange and influx of substandard products in the market.