One of the foremost automobile assembly plants in Nigeria, PAN Nigeria Limited, has dismissed reports that its Kaduna-based factory has been bought over.
The auto firm stressed that it is operationally doing well in its auto business as a separate entity from Dangote PAN.
A source at PAN Nigeria Limited disclosed that the Kaduna-based auto assembler has ceased to be assemblers of Peugeot vehicles in Nigeria and now evolved as a multi-brand assembler of reputable international brands.
PAN Nigeria, which incidentally will be marking the 50th anniversary of its incorporation in Nigeria during the year, will be rolling out exciting new brands designed to meet the high expectations of its target market.
It was learnt that PAN had already signed deals with two leading Chinese companies, Chery Automobile and Higer Bus Company, which specialize in the production of passenger cars and commercial vehicles.
While Chery is a leading manufacturer of Sport Utility Vehicles (SUV) and Sedans, Higer is a reputable producer of mini and city buses.
The assembly of multiple brands at the PAN plant, will increase capacity utilization, create new jobs, and promote local content development.
A source from the plant said, “we have a wide range of exciting new products ranging from pickups, buses, sedans, SUVs, and ambulances which will be produced in our plant to serve needs of the important segments”.
He also disclosed that the new products would be competitively priced, offering high value for money in the PAN Nigeria tradition.
To this end, the source said that the company would bring its extensive experience as the foremost auto manufacturer to bear on the production, distribution, and maintenance of the new brands.