The Managing Director of Honeywell Group, Obafemi Otudeko, has said the company would begin investing in new sectors following the deal between Honeywell Flour Mills (HFM) and Flour Mills of Nigeria (FMN), IgbereTV reports
Otudeko stated that the firm is seeking a new path to increase its investment portfolio, after the group company exited HFM with N80 billion. Honeywell Group has investment in technology and telecommunications.
This comes after its deal with Flour Mills of Nigeria, which saw FMN purchase 71.69% stake in Honeywell Flour Mills, according to previous report by Ripples Nigeria last week.
While Otudeko didn’t reveal the sectors the company found investment worthy, a statement from the company made available to Ripples Nigeria said, “Honeywell Group is poised to continue refining and growing our investment portfolio.
“We are strongly positioned to expand our activities in key growth sectors through strategic investments and partnerships. We remain committed to creating businesses that leave a lasting impact and look forward to sharing our future plans.” he said
