Nnewi Born Philanthropist and Billionaire and founder of Cutix Cables and Wire, Chief Ajulu Uzodike is Dead.
You’ve heard that Nigerian wires and cables are one of the best I’m the world � and the best in Africa �. It’s because of this Igbo man here �.
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 N400,000 and it’s located in his hometown, Nnewi, Anambra State.
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 their 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.A
By Amb1045.
Engr. Gilbert Ajulu Uzodike, the Founder of Cutix Cables PLC, may not be the most successful or the richest Igbo businessman, but he has distinguished himself by doing something different most Igbo businessmen fail to do.
May his Soul Rest in Peace and May God grant his family the fortitude to bear this great loss.