A pharmaceutical company, Jubilee Syringe Manufacturing Limited (“JSM”) located in Awa, Onna Local Government Area of Akwa Ibom state, has clarified that it has not ended its operations in Nigeria.
JSM was inaugurated on September 23rd, 2017, by the former Vice President of Nigeria, Professor Yemi Osinbajo.
It has become the market leader with its top-quality syringes in the country, in addition to creating employment opportunities for Akwa Ibom people and other Nigerians.
However, despite the huge sum invested in the syringe factory, the management staff has been unable to meet up with its expected target, hence, the decision of the investors to restructure and reorganise the management team and the entire structures of the production lines for better profitability and sustainability.
A statement by JSM investors through the Managing Director of VKS Group of Companies, Mr. Onur Kumral, dismissed the reports that JSM was ending its operations in the country completely.
The statement reads in part: “JSM is simply undertaking temporary measures to ensure the long-term sustainability of its operations. Restructuring is not new in any given business environment and sometimes you undertake reviews with sustainability in mind.
“When you set up a multimillion-dollar factory such as JSM, it is important to take a critical review of its operations and that of the management staff. JSM is a for-profit business and when expected targets are not met year after year, a shake-up is inevitable, which is what we have decided to do.
“We want to assure our esteemed customers that there is no need to panic. We are still in business as Jubilee Syringe Manufacturing Limited and we are poised to keep to our commitment to remain as the producer of the highest quality syringes in Nigeria.
“We call on the general public and our esteemed customers to disregard insinuations in certain media outlets reporting a total shutdown of JSM operations in Nigeria, we remain in business, and we will come back stronger than before.”
