Benin, February 2, 2026
PRESS RELEASE
EXPECTED INVESTMENT BY BUILDING MATERIALS TECHNOLOGY INDUSTRIES (BMT INDUSTRIES) IN AUSTIN LAZ &CO PLC AS A CORE INVESTOR
AUSTIN LAZ AND CO PLC (the Company) wishes to notify its shareholders, Nigerian Exchange Limited and the investing public that it has commenced discussing with Building Materials Technology Industries (BMT Industries) with the prospect of investing in the Company to attain a core investor status in the company.
BMT Industries is a manufacturing entity involved in the production of Glazed roofing sheets (a non-metallic roofing sheet with 80% local content), Glazed suspended ceiling, Under ceiling sheets, wall panels, PVC windows, Glazed roof facial boards, etc The company has been in existence since 2022 and has significant share of the market for its products in South-South geopolitical zone of Nigeria and the Federal Capital Territory (FCT), Abuja.
BMT Industries has made adequate plans for the marketing of its products in Lagos and Ogun States before the end of the second quarter of 2026 to expand the exposure of its products in that region of the country.
The investment of BMT Industries in AUSTIN LAZ and Co Plc will enable the Company to generate income from the sales of Glazed roofing sheets, suspended ceiling and others which will commence as soon as the process is completed. The existing production lines for these products and their civil works Infrastructures, brand, market and goodwill will be transferred to Austin Laz and Co Plc in exchange for issue of Austin Laz and Co Plc's shares to the shareholders/owners of BMT Industries.
BMT Industries has an asset base of N3 Billion and had a turnover of over N1.6, Billion in the twelve months ended December 31, 2025.
The board of Austin Laz and Co Plc estimate that the investment process and the share issue arrangement will be concluded before the end of March 2026 subject to obtaining all relevant regulatory approvals.
Further developments in respect of the discussions and the investment process will be disclosed in due course as progress is being made on the arrangement.
Ifeanyi Ofor &Associates
Company Secretary