February 29, 2012 Established in July, '82, Austin Laz Plc commenced flagship operations of iced-block-making machines in Benin. Years later, the company widened its horizons into plastics, Aluminum and Building materials productions.
Currently its market share for building materials spans above 10% (in the Niger Delta zone), about 10% (in Abuja) and for iced-block making and cooling machines, 51%.
Presenting the company's profile before the management of the Nigerian Stock Exchange, NSE and Stockbrokers at the Bourse, the MD/CEO of Austin Laz Plc, Dr. Austine Asimonye emphasised that Austin Laz has come to be listed on the Exchange not only for revenue generation but also to develop the Manaufacturing sector in Nigeria.
As the first company to be listed by introduction in the Exchange in 2012, Austin Laz's 1,079,860,000 ordinary shares of 50Kobo each at N2.00 is classified in the Manufacturing sector.
Assuring that more companies would be listed on the NSE as the year goes by, the NSE's CEO, Mr. Oscar Onyema commended the giant leap of the management of Austin Laz Plc.
The Chairman of Austin Laz Plc, Prof. Pat Utomi rephrasing Prime Minister (of Britain) David Cameron's comment on Nigeria, shared that in the next fourty years, Nigeria rather than China or India would be the destination for investments. Prof. Utomi explained that to be the line, quoting Austin Laz Plc to the NSE becomes necessary.
The MD/CEO of the company, Dr. Asimonye who stated that "Technology is the money-spinner and Austin Laz is in it" announced that the Refrigerating and Air Conditioning products underway are being financed by Deap Capital Plc while productswill be released to the markets by June, '12
Austin Laz Plc projects the siting of two factories in Abuja and one more in Asaba, Delta State. It however promises to stay undelisted at the NSE and employ transparency through compliance with release of its financials as at when due.