COMPANY PROFILE

Presco is a public limited liability company incorporated on September 24, 1991 under Nigerian law. Its corporate head office is at the company's Obaretin Estate near Benin City.

Presco holds the Obaretin Estate (a concession of 7,000 hectares) and the Ologbo Estate (a concession of 6,000 hectares), both located in Edo State, and the Cowan Estate, a concession of 3,000 hectares in Delta State.

Presco today consists of :

Oil palm plantations of 9,100 hectares of which 7,500 are mature
A palm oil mill with a capacity of 24 tonnes fresh fruit bunches/hour
A refinery / fractionation plant with a capacity of 75 tonnes/day
A palm kernel crushing plant with a capacity of 40 tonnes/day

Presco employs 1,300 people: 300 are permanent staff and 1,000 are contract workers.

Presco is a subsidiary of Siat s.a., a Belgian agro-industrial company specialized in industrial as well as smallholder plantations of tree crops, mainly oil palm and rubber, and allied processing industries such as palm oil mills, palm oil refining / fractionation, soap works and crumb rubber factories. Siat diversified its activities into cattle ranching. Siat has as its shareholders agronomists and economists with experience in the development of agro-industrial ventures in the tropics. (http://www.siat.be/)

Besides Presco, Siat has a major stake in the Ghana Oil Palm Development Company (GOPDC) in Ghana (http://www.gopdc-ltd.com/), in Siat Gabon (http://www.siatgabon.com/) in Gabon and in the Compagnie Heveicole de Cavally in Ivory Coast.