FTN COCOA PROCESSORS PLC Company Profile

FTN COCOA PROCESSORS PLC

FTN Cocoa processors Plc was formerly registered as Fantastic Traders Nigeria limited, a Limited Liability Company Which was incorporated in 1991. The company commenced cocoa processing business with third party arrangement (Toll Processing) with Stanmark cocoa processing company limited in 1995 for conversion of cocoa beans into cocoa butter and cocoa cake/powder.
 
The company later extended its third party processing activities to Ile-Oluji, Cocoa Cooperative, Cocoa Akure and Cocoa products, Ede Osun State.
 
Within a period of 13 years it had established strong relations with overseas cocoa product buyers such as Theobroma BV, Netherlands,Euromar Berlin,Trading and Services France,Union Chocolate Poland,Delfi Cocoa (Europe) France/ Netherlands,Indcresa Spain,All trade international France.
 
 
They have Solid relationship with local users such as Nestle Nigeria Plc and Promasidor Nigeria Limited, makers of Cowbell Milk and Cocoa products.
In March 2001 the company diversified into processing of palm kernel with the establishment of a 20,000 MT per annum crushing facility in Ibadan.
The products, which are mainly crude palm kernel oil and palm kernel cake, are sold locally to industrial users such as edible oil refineries and soap manufacturers.
Their major customers in this business are Lina oil mills ltd, sudit oil mills ltd, alkanaah industries ltd all in Ibadan and smooford industries ltd in Iperu Ogun State. This facility is being forward integrated into Palm Kernel Oil Refinery with the acquisition of a 50,000 metric Tons per annum vegetable oil Refinery in Ibadan.
Over a period of 16 years FTN cocoa processors plc have processed about 64,000 MT of cocoa beans and 90,000 MT of palm kernel.
 
Their experience in the cocoa processing business led to the informed decision to lease cocoa products company ltd, Ille-Oluji, Ondo State in 2003 at a time the company was moribund. Their successful turnaround of the company paved the way for its privatization in 2006. In 2005 the company decided to venture into full scale self-production. The process commenced in March 2006.
 
The factory covers an area of approximately 4 acres with initial processing capacity of 10,000 MT of cocoa beans. It is a fully integrated factory with packing lines for cocoa liquor, cocoa butter, cocoa cake and cocoa powder plant. We commissioned the factory in November 2007. An additional 10,000 MT capacity per annum line was commissioned in September 2011 while the vegetable oil aspect was commissioned in January 2013.
 
 
The company later extended its third party processing activities to Ile-Oluji, Cocoa Cooperative, Cocoa Akure and Cocoa products, Ede Osun State. Within a period of 13 years it had established strong relations with overseas cocoa product buyers all over the world. We went ahead to solidify our relationship with many local users such as Nestle Nigeria Plc and Promasidor Nigeria Limited; makers of Cowbell Milk and Cocoa products.

BOARD OF DIRECTOR
Sir (Chief) S.O. Oguntimehin – Chairman
Mr. Abiola Aderonmu - Managing Director and Chief Executive Director.
Mr. Akin Laoye - Executive Director.
Mr. Wole Abegunde – Director.
Mr. Olusoji Balogun  - Director of  Stobal Nigeria Limited and EHFC Limited (an Equipment Fabrication and Hiring Company).
Mr. Peter I Nwalozie  - Director of Pinefields Investment Services Ltd.