The Company
Background
Honeywell Flour Mills Plc was initially registered as Gateway Honeywell Flour Mills Limited on July 9, 1985 with a share capital of N10million comprising of 10million ordinary shares of N1 Kobo each. 
A change in the company’s ownership structure led to a change of name to Honeywell Flour Mills Limited (HFML) in June 1995.
A subsequent conversion to a Public Liability Company in March 2008 led to its current name - Honeywell Flour Mills Plc. HFM PLC now has an authorized share capital of N4billion comprising of 8billion ordinary shares of 50Kobo each of which N3.5 billion is fully paid up.
Over the years HFM Plc has positioned itself as a market leader in flour milling, processing & packaging of flour and livestock feeds from wheat. The entry of the Company into the flour milling industry in Nigeria redefined the industry standards; as its high quality compelled an improvement in the quality of flour products by other players in the industry.
Subsidiary
Honeywell Flour Mills Plc acquired 100% ownership of Honeywell Superfine Foods Limited (HSFL) which commenced operations in December 2006 as a vertical integration of the company’s operations to develop, produce, market and sell flour-based semi-processed food products in the fast moving consumer goods sector. Please click following link to view Honeywell Superfine Foods Ltd’s site:- www.honeywellfoods.com
The Industry
There are 22 milling locations in the Country owned by about 11 milling groups. The top four (4) players (of which Honeywell Flour Mill Ltd is one), have a combined installed capacity of approximately 25,000 MT per day and control over 75% of the market. Honeywell Flour Mills plans to embark on an aggressive strategy that will increase its capacity utilization to 100% ,up from 80% (industry average is estimated to be less than 35%.
Because of the overcapacity in the flour milling business the industry is characterized by intense competition and price war.
Product price and dealer incentives can sometimes be the reason for the users to select more of one brand than the other.Despite the situation of the commoditization of flour an adequate niche exists in the market for quality flour and flour products.Our brand,Honeywell Superfine flour occupies this niche in the market place.
Market Size
The total current market size of flour is estimated to be about 2.5 million tonnes per annum. With bread becoming the staple food in most urban Nigerian homes, the demand for flour and consumption of bread is expected to continue on a steep rise before it stabilizes. Also as a result of the increase in the number of Fast Food Restaurants, the demand for bread, pastries, sandwiches, and other flour based products is on the increase. Thus, no difficulty is envisaged in the near future in the marketing of our products. We have already carved out a niche for our brands in the market through consistent product quality and an efficient back-up service to our customers.
Quality Awards
In January 2006 we became the first, and have remained the only flour mill in Nigeria to be awarded the NIS ISO 9001:2000 certification in recognition of our quality management systems , covering our processes and production. This certificate is issued only to companies whose processes meet with international quality standards. We were also awarded the Mandatory Conformity Assessment Programme (MANCAP) by the Standards Organisation of Nigeria (SON) in recognition of the quality of our Semolina brands in 2007. Prior to this, in the year 2004 we had received the NIS quality award in respect of our flour quality.As a mark of this quality our flour and semolina brands carry the NIS ISO 9001:2000 and the MANCAP logo respectively.