Nigeria’s November Manufacturing PMI expands to 59.3 points

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The Manufacturing PMI in the month of November stood at 59.3 index points, indicating expansion in the manufacturing sector for the thirty-second consecutive month. The index grew at a faster rate when compared to the index in October. Thirteen of the 14 surveyed subsectors reported growth in the review month in the following order: transportation equipment; petroleum & coal products; furniture & related products; electrical equipment; plastics & rubber products; food, beverage & tobacco products; nonmetallic mineral products; printing & related support activities; cement; fabricated metal products; primary metal; chemical & pharmaceutical products; and textile, apparel, leather & footwear. The paper products subsector recorded decline in the review period.

Production Level 

At 60.1 points, the production level index for the manufacturing sector grew for the thirty-third consecutive month in November 2019. The index indicated a faster growth in the current month when compared to its level in October 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, while 3 recorded decline.

The November 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period November 12-18, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). The Bank makes no representation regarding the individual companies, other than the information they have provided. The data contained herein further provides input for policy decisions.

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New Orders

At 59.4 points, the new orders index grew for the thirty-second consecutive month, indicating an increase in new orders in November 2019. The index grew at a faster rate when compared to its level in October 2019. Ten subsectors reported growth, while 4 remained unchanged in the review month.

Supplier Delivery Time

The manufacturing supplier delivery time index stood at 58.7 points in November 2019, indicating faster supplier delivery time. The index has recorded growth for thirty consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 2 declined in the review period.

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Employment Level

The employment level index for November 2019 stood at 57.7 points, indicating growth in employment level for the thirty-first consecutive month. Of the 14 subsectors, 10 reported increased employment level, 1 reported unchanged employment level while 3 reported decreased employment in the review month.

Raw material Inventories

The Manufacturing sector inventories index grew for the thirty-second consecutive month in November 2019. At 60.6 points, the index grew at a faster rate when compared to its level in October 2019. Twelve of the 14 subsectors recorded growth, while 2 reported declined raw material inventories in the review month.

Download the Purchasing Managers’ Index (PMI) Survey Report

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Nigeria’s November Manufacturing PMI expands to 59.3 points - Brand SpurNigeria’s November Manufacturing PMI expands to 59.3 points - Brand Spur

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Nigeria’s November Manufacturing PMI expands to 59.3 points - Brand SpurNigeria’s November Manufacturing PMI expands to 59.3 points - Brand Spur

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China Dynamics Appoints International Advisors

Accelerates Expansion into Global Market

 

HONG KONG SAR - Media OutReach - 28 January 2021 - China Dynamics (Holdings) Limited (the "Company"; Stock Code: 476, together with its subsidiaries, collectively "China Dynamics" or the "Group"), a provider of new energy vehicles and technology integrated solutions, has announced its Team of International Advisors for supporting its growth strategy in the global market.

 

The Team of International Advisors comprises Mr. Michael Perschke, Ms. Monika Mikac and Mr. Matthew Green.

 

Mr. Michael Perschke, Founder & Former CEO of Automobili Pininfarina, is the CEO of NAD (New Automovile Development). He has been in the automotive industry for 25 years, having served at such companies as Daimler Group, Mitsubishi Motors and Volkswagen Group, including the CEO of AUDI India. In respect of Mitsubishi Motors, he played a major role in the company's turnaround in Europe, whereas at AUDI, he demonstrated his strong branding background by creating the "AUDI SPORT" brand by uniting all Audi S and RS models under an umbrella brand strategy. In addition, Mr. Perschke ventured into the electric vehicle ("EV") segment and successfully developed the brand and sales strategy for the EV brand of AUDI -- the eTron. In early 2018 he founded Automobili Pininfarina as the first fully sustainable luxury EV brand, capitalizing on the legendary Italian design company Pininfarina, and supported by his key investor, the Mahindra Group (India). Mr. Perschke is among the top 20 global EV leaders and recently joined NAD -- an investment firm focusing on investments in EV, autonomous and connected technologies.

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Mr. Perschke will support China Dynamics' European and Latin America market expansion and make contributions to the Group's investment and funding activities by leveraging his personal network.


Included among the European Automotive Rising Stars, Ms. Monika Mikac started her career as COO of Rimac Automobili; helping the company grow from a handful of employees to around 350 people. In being one of its first five staff members meant that she had to engage in a diverse scope of activities, spanning public relations and marketing to finance and administration. She also actively participated in fundraising efforts and helped Rimac Automobili to close their first round of funding in 2014 for €10 million, which was followed by €30 million in 2017.

 

With her extensive experience in marketing and business development, Ms. Mikac will be entrusted with helping support China Dynamics on its path towards becoming an internationally renowned electric bus manufacturer.

 

Mr. Matthew Green has been active as a principal and advisor in several transactions across diversified alternative asset classes, including renewable energy, real estate, technology and infrastructure, and covering key western European markets and large-scale emerging markets. With a focus on capital raising, transaction origination and debt financing, he has concluded transactions or advised on financing activities with leading global organizations, including Blackstone, Cerberus, BAML, GI Partners, and Bank of China Asset Management.

 

Mr. Green will assist in the Company's growth in the capital market by fostering new relations with leading global investors and forging industry alliances.

 

Mr. Miguel Valldecabres Polop, CEO of China Dynamics, said, "We are delighted and will look forward to working with the new team of professional advisors. As China Dynamics is growing into a leading global EV bus player and last mile transportation leader, it is critical that we build a diverse and globally experienced team to help the Company fulfill its mission of becoming one of the foremost international players in the market. The advisors are expected to draw on their wealth of knowledge and experience in the international marketplace to help China Dynamics identify opportunities around the world, accelerate its growth and strengthen its global presence."

About China Dynamics (Holdings) Limited (Stock Code: 476)

China Dynamics (Holdings) Limited is a pioneer and a prominent player in China's new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power system and its key components. The Group has two production bases in Chongqing and it has developed its sales network in Mainland China, Hong Kong and the Philippines.

Nigeria’s November Manufacturing PMI expands to 59.3 points - Brand Spur

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