Dominicans at home and abroad have responded positively to an offer by the Managing Director of Nature Island Paper Products Incorporated, to take ownership of the only tissue paper company in Dominica.
The Dominican market for toilet tissue and other paper products is in excess of Six Million Dollars ($6,000,000) annually and toilet tissue being a basic essential product and with a capacity to produce 2000 rolls of tissue paper an hour or over fifteen million (15,000,000) rolls a year, the company was not satisfied with its performance in penetration of the local market.
On February 23rd, 2016, the Managing Director announced its intention to place the company for sale on the open market and allowing Dominicans the opportunity to take ownership of, what is considered to be, a very lucrative business enterprise was presented as an option.
A new company, Nature Island People’s Paper Company Limited (NIPPCO), was incorporated on May 20th 2016 with Mr. McDonald Thomas, who recently retired from the Caribbean Development Bank, assuming the responsibility of director of the company until the convening of the first shareholders meeting.
To date more than eighty Dominicans, resident in Dominica and in the diaspora, have demonstrated their support and are investing in the company through a private offering. The minimum investment to be part of the company is EC$1,000.00 or US$370.00. On August 31st share certificates will be issued to all investors, after a due diligence process has been conducted, and the first Shareholders Meeting will be convened on September 22nd 2016, when a Board of Directors will be elected. The new company is expected to take over operations of the facility on Monday 3rd October, 2016 with new management.
This is a trailblazing initiative and has tremendous potential for future collaboration between resident Dominicans and those in the diaspora. The broad-base ownership of the company will allow it to compete effectively in the local market and should be in a position to capture up to 90% of the market share within the next three years.
NIPPCO will benefit from highly efficient machinery, an Innovative Business Plan prepared by the Inter-American Development Bank, top quality raw material sources and 25% of the market share. The new Board of Directors will guide the company with a new management team.
Persons willing to be part of this unique experience can contact the company via email: [email protected] or via telephone: 767-448-1941 or 767-245-1294. NIPPCO is the company for Dominicans at home and abroad.
Jolly’s making nice soft and durable toilet paper. they should ask jolly’s how to make quality paper for this new overhaul because their quality was way below par, hence heir inability to have any significance in the TP market.
Any consideration to make this a good “green” company? How much recyclable material goes into producing the finished product? I would like to know before investing
we are heading in the right direction, positive thinking equals positive people.
T his initiative has my support those of us who remember DCP operated under same principle so we can do it again. Let’s get on board lets invest.
Seeing Dominican moving forward in this manner makes me proud. I would like to invest in this venture, but first, I would like to review a business plan (what are the growth plans) as well as review company financial information (incomes statement, balance sheet), if available, the numbers tell the story.
Good Initiative
There is only one way to grow this business and it is to reduce cost and lower the price of their products on the grocery shelves.
If there is one commodity that is extremely price sensitive, it is paper products. I only buy toilet paper and paper towels when it is on sale. I stock up until the next major sale.
Of course the quality has to be a given.
Great to know. I will invest in it. TP and health svcs are good investment opps. at this time.
Positive
the meat processing government owned business needs to be owned by locals,like this…
Perhaps someone enterprising can set up a crowdfunding portal to make it easy for Dominican businesses (and projects like the abattoir that government should privatise) to solicit small-scale investment from people at home and in the diaspora.
I keep hearing there are no good jobs in Dominica for those with postgraduate degrees, this is a vacancy in the economy in which an underutilised MBA/MS Finance degree holder could make his/her own job.
I thank the gov’t for giving it a start, in the future it may be sold, like Domlec, but hopefully to locals like nipp.
Very nice.