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 14,000 hectares), both located in Edo State, and the Cowan Estate, a concession of 2,800 hectares in Delta State.

Presco today consists of :

• Oil palm plantations of 11,760 hectares of which 8,347 are mature
• A palm oil mill with a capacity of 60 tonnes fresh fruit bunches/hour
• A refinery / fractionation plant with a capacity of 100 tonnes/day
• A palm kernel crushing plant with a capacity of 60M tonnes/day

Presco employs about 3,250 people: 450 are permanent staff and 2,800 are contract workers as at February 2013.

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-group.com/)

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.