In a corporate announcement signed by Olanrewaju Obadina, the company secretary stated that the introduction of two new entities was in line with current business realities.
According to the company’s statement, the decision was taken with a view to better consolidate its position and equip the company for the future.
It said, “The primary aim of the “new companies” is to expand the Company’s products/capabilities with the requisite independence of championing new business ventures to support the company’s growth plans.
“This serves as a phase in the company’s restructure plan to enable the Nigeria end-user benefit from the specialized full range of products the new companies have to offer.”
Explaining key functions of each business, Obadina noted that, Scoa Equipment Limited will have a product portfolio of established brands of high end Equipment suitable for Road/Building Construction, Mining, Agriculture, Material/ Heavy Lifting, Fire Fighting Oil and Gas et al.
Scoa Equiment Limited would primarily be engaged in the importing, assembling, supplying and distribution of this Equipment, while offering the services of repair, maintenance and servicing of the aforementioned equipment
For Scoa Motors, the company stated that it will also have a rich portfolio of equally established brands of motor vehicles: Cars, Trucks, Earth Moving Plants, Passenger/Commercial/Special Purpose vehicles et al
The 1926 established conglomerate, has been contributing to the growth and development of the Nigerian Economy for over 70 years, with core focus on Technology, infrastructural development, equipment supply and turnkey solutions.