Cutix Reassures Shareholders Of Enhanced Investment Returns

Cutix Plc has reassured its shareholders and investors of enhanced returns on investments.

The company, an indigenously promoted company, has flagged off activities to mark its 40th anniversary celebration with the theme: ‘40 Years of Striving for a Commonwealth’.

Managing director and chief executive officer of the company, Mrs. Ijeoma Oduonye, said the theme of the anniversary was specially styled to highlight the continuously improving returns to stakeholders of the company since inception.

Oduonye, who disclosed this at press conference in Lagos,  said, Cutix Plc reached the milestone of 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.