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26.03.2007 Business & Finance

Stallion Strikes Rice Deal For West Africa

West African conglomerate Stallion Group has finalised a major commodity transaction involving shipment of rice from Thailand worth $207 million to the West Africa sub- region.

This significant deal provides Stallion prime access to high quality rice procured from two of the top exporters from Thailand, Capital Rice and Asia Golden Rice.

The Stallion Group was represented by its Executive Director, Mr. Varun Rishi and the Financial Controller, Mr. Sameer Gupta while the Capital Rice Co. Ltd, Thailand was represented by their Deputy Managing Director, Mr. Ravisak Vanichjakvong and their Export Manager, Mr. L. Thanaphol. Asia Golden Rice Co. Ltd was represented by Mr. Anurak Deesirisathien.

From the time of its inception in 1979, Stallion is traditionally known for its associations worldwide, across a wide array of commodities and consumer products.

The company is also associated on exclusive basis with giant global motor companies like Honda, Volkswagen, Audi, Skoda, Hyundai and Mahindra.

The global business of Stallion comprise 54 locations in 18 countries worldwide with a staff strength of 7,200.

The company has emerged over the years into a substantial empire consisting of agri-business, heavy industries, automobiles, real estate and services with a sales revenue exceeding $1billion.

Over the last decade, Stallion has created a balance in its business portfolio by enlarging its focus on industries that create local value addition in its West African markets like Nigeria and Ghana.

As a result, numerous industrial projects including large scale rice farming/milling, polypropylene packaging, textiles, automobiles/motorcycle assembly industrial / household plastics, and food processing have been set up successfully also creating synergies with the aspiration of the local governments.

The Group is also active in shipping, banking, construction and Real estate.

Promoted by the Vaswani Brothers, led by international businessman Sunil Vaswani, Stallion has also made huge strides in the international markets, notably Middle East and Asia and is well placed to meet its ambitions of achieving a global status within diversified industries.

As a step in the direction of ramping up investments in Ghana considered by Stallion to be one of its key markets, the group recently acquired the property in the Tema Industrial Area commonly known as Ghana National Procurement Agency's (GNPA) property worth about ¢18 billion, with a storage facility of over 250,000 metric tonnes with a scope for expansion.

In the same vein, the group has recently invested over N4.5 million in Nigeria in various industries and acquired the assets of Onward Commodities Nigeria Limited. This is in recognition of the sub-region's abundant resources and prospects for growth.

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