Quality Ceramics Industries, ltu LGA, Akwa Ibom State is reviewed herein. We hope you find the article helpful and informative.
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Quality Ceramics Industries Limited was incorporated as a limited liability company on the 11th of June, 1980 to manufacture and market ceramic tiles, especially for floors and walls, sanitary wares, and other ceramic products.
As a private limited liability company, it also restricts the right to transfer shares to the public irrespective of personality.
Also, agreements were signed between the former Cross River State and Welko industries SPA of Italy. These companies were not just in partnership for the guiding principle of profit-making but as technical Partners which was based on a turn-key basis precisely on 1st September 1981.
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The Quality Ceramics Industries or factory started construction in 1982 with laid down objectives. One important goal or purpose of the factory was the production building, the technical workshop and stores, the laboratory, and the administrative buildings.
The factory completed the building of the factory in 1982 with the help of its technical partnership companies. Also, there was a need for technical workshops and shores to act as a shortage for inventory, and many other purposes and preparations were taken in place even for a laboratory. Administrative buildings were made for staff to provide them with a conducive working environment.
Furthermore, a detailed description of the installed capacity of the factory is given below;
(i) 400,000 sq. meters of floor and wall tiles of different sizes colors and designs under the brand name “ELECTOISE”.
(ii) 140,000 pieces which are about one thousand two hundred and twenty tons (1,220 tons) of sanitary wares made up of water closets, wash-hand basins, squatting pans, bidets gift items, etc. By 1987, only the tiles line was completed to start production.
The challenge in Quality Ceramics Industries became when the technical partners abandoned the sanitary wares line installation in 1988 due to a lack of funds. The amount of capital available could not match the volume of production and it slowed down the economic activity of the company.
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Due to this fact, the factory could not meet their high demands and inability of the company to meet their technical, financial, and contractual obligations and other problems.
In December 1989, the company obtained the Nexium/ADB export stimulation loan of US $800,000 through Century Merchant Bank and in 1990 imported crushing and milling equipment for the sanitary wares line. In 1991, the installation was completed and test runs started in March 1992 with outstanding debt.
The sanitary-ware products were launched in July 1992. Despite this launch, the companies still underwent many financial crises and the next decision was to set up a board for staff turnover where some staff could be laid off from the company.
This led to a staff crisis before the company was closed down on 24th September 1992 following staff riots against the management.
In conclusion, the company has very good prospects as its products were readily accepted in the market. Most of its raw materials were sourced locally.
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It is a project that will recoup the cost of rehabilitation in a short time. The inability to fulfill technical, financial, and contractual obligations had made the company deplorable.