This is a $75 million agreement with $15 million in orders per year over five years. The agreement continues a longstanding relationship between Dyson and Cood Resources, which has purchased Synergyn products for the past five years and has increased the sales volume each year.
Dyson will be the consultant on the design and construction of the Lagos blending plant, which will make products to be sold in Nigeria and surrounding countries. EMTA and Cood project that sales from this plant will reach an annual rate of $75 million within 10 years.
Edmond Lonergan, EMTA’s CEO, said: This volume of sales will make our plant very profitable for the foreseeable future and the Synergyn products are competitively priced in Nigeria. For EMTA, the benefits will be two-fold. One is the direct equity stake held by our subsidiary Dyson Properties. The other is a foothold for one of our core brands in a region with a fast-growing population and the long-term potential for substantial economic growth.
