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Meet, Chief Obiajulu Uzodike, the CEO of Cutix Cables PLC

Chief Obiajulu Uzodike is the owner of Cutix Cable Nigeria, one of the best Cable companies in the world, His products are exported outside Nigeria.

His current Net Worth is valued at $330 Million.

His company, Cutix cables, which is one of the leading manufacturers of assorted cables for electricity, telecommunications and automobiles, was founded in 1982 with just N400,000

The idea for the Company was conceived in 1981, when Dr. (Engr.) Ajulu Uzodike decided to leave Raychem Corporation, a major international manufacturer of aircraft & military wares and accessories, to set up an indigenous firm to manufacture electrical cables and switchgear assemblies. Adtec Ltd, a venture capital and management firm, which was incorporated in 1978, started the two projects as separate divisions in 1982. Cutix Plc was incorporated on November 4, 1982 as a Private Limited Company, manufacturing electric cables and wires. -cutix.com

Soon after the economy was liberalized in 1986, the Company went to the capital market, through the Second Tier Security Market, to raise funds. The public issue, which made Cutix the first private company East of the Niger to be quoted on The Nigerian Stock Exchange, was concluded on August 12, 1987. After the public issue, the Company became Cutix Plc.

Between 2000 to 2007, with a view to expanding our product lines and capacity, Cutix installed and commissioned a number of machines, which include LBTS, F13, F-Shaw, Armouring Line, and Cabling machine among others.

Up 1978, started the two projects as separate divisions in 1982. Cutix Plc was incorporated on November 4, 1982 as a Private Limited Company, manufacturing electric cables and wires.

In 2014, Cutix Plc added another feather to her well decorated cap when she built and commissioned a new state of the art factory adjacent to the first one and dedicated it to the production of all sizes of amoured/non amoured cables, XLPE cables, Poly Ethylene cables and other types of power cables. This singular act positioned Cutix Plc as one of the leading cable manufacturing companies in Nigeria in terms of capacity.

Additional area of 5500m of land where the Companies power cable plant is situated was also acquired in 2014.

Today, his company is the leading native enterprise in the Nigeria.

Dr Uzodike is married to Barrister A.O. Uzodike, a Supreme Court Lawyer, with whom he has six children. He spends his spare time speaking at seminars, writing high-impact papers and raising funds for his many philanthropic projects.

Chief Gilbert Obiajulu Uzodike hails from Nnewi, in Anambra State. A town said to have more billionaires than anywhere else in Nigeria.

Chief Ajulu with some others quest for industrialization is not unconnected to the fact

why Nnewi South and Nnewi North council area are maintaining lead as the council area with lowest unemployment rate in Anambra State.

History of Cutix cable:

Inception 1981 – 1982

The idea for the Company was conceived in 1981, when Dr. (Engr.) Ajulu Uzodike decided to leave Raychem Corporation, a major international manufacturer of aircraft & military wares and accessories, to set up an indigenous firm to manufacture electrical cables and switchgear assemblies. Adtec Ltd, a venture capital and management firm, which was incorporated in 1978, started the two projects as separate divisions in 1982. Cutix Plc was incorporated on November 4, 1982 as a Private Limited Company, manufacturing electric cables and wires.

Raising Initial Funds: 1983

By mid-1983 some friends and relations of the founder and foundation staff handling the projects were invited to invest in the projects initiated by Adtec Ltd. After the private placement, 18 founding shareholders emerged which took over the business of the cable division of Adtec Ltd, Cutix Ltd with a start-up capital of N400,000.00.

Machinery Programme: 1984 – 1986

The Company started production with one extrusion line in 1984 and have been in continuous production with the capacity to produce various cable and wire products. We added a second line in 1985 and by 1986, several wire – processing lines were added to achieve integration par with leading cable makers in Nigeria and elsewhere in the world. All the machines were specified, installed and commissioned by members of Cutix staff which is 100% Nigerian as a deliberate policy. We also incorporated as much locally fabricated parts as we could without lowering the overall quality and efficiency. Our belief in the value of integration is so strong that during the difficult days of import licensing, 1984 – 1986, the Company used the bulk of the licenses obtained to buy machinery for forward and backward integration.

Going Public: 1986 – 1987

Soon after the economy was liberalized in 1986, the Company went to the capital market, through the Second Tier Security Market, to raise funds. The public issue, which made Cutix the first private company East of the Niger to be quoted on The Nigerian Stock Exchange, was concluded on August 12, 1987. After the public issue, the Company became Cutix Plc.

Public Compounding Line

In 1992 the Company went a step further to become the first cable manufacturer to acquire a plastic compounding line.

Expanding our Product Line

Between 2000 to 2007, with a view to expanding our product lines and capacity, Cutix installed and commissioned a number of machines, which include LBTS, F13, F-Shaw, Armouring Line, and Cabling machine among others.

New Manufacturing Premises in Nnewi

Cutix Plc started manufacturing at Nnewi in a 1,000m facility she rented from Adtec Limited. By 2009, we moved all our machinery to our own factory premises and head office at 17 Osita Onyejianya Street, Umuanuka, Otolo, Nnewi. Production now goes on at the new site, which has about 6,000m covered area while the head office complex stands adjacent to the production plant.

Become Lead Cable Manufacturing Company in Nigeria:

In 2014, Cutix Plc added another feather to her well decorated cap when she built and commissioned a new state of the art factory adjacent to the first one and dedicated it to the production of all sizes of amoured/non amoured cables, XLPE cables, Poly Ethylene cables and other types of power cables. This singular act positioned Cutix Plc as one of the leading cable manufacturing companies in Nigeria in terms of capacity. Additional area of 5500m of land where the Companies power cable plant is situated was acquired in 2014.

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