1974 - 2000

The TEXCO STORY in a Nutshell 1970 - 2000

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TEXCO was incorporated on 13th October 1975 by myself. Months later, I stroke a deal with IPTC (West Africa) Ltd. and TEXCO became a joint venture with me as Managing Director and owner of TEXCO. IPTC was holding all contracts with principals and got the commissions in full. T got a fixed salary and a budget for the TEXCO running costs. I accepted and got substantial support for the start up in return. Dr. Athenas Ghertsos H. Stüssi, and Mr. Walter Squindo where the Directors at IPTC, supporting my venture. This cooperation was terminated 1981 by a newly appointed MD of IPTC. He was on the opinion that IPTC has too little influence in the TEXCO business. He was also not on my "wave length" and I was not ready to give in! Of course, we had to face the bitter consequences! Heinrich Stüssi agreed to act as our overseas executive in Switzerland and looked after our interests.

Heinrich Stüssi of IPTC, my former boss, was appointed a Director of TEXCO and remained on the board until the "bitter" end. When IPTC revoked the agreement in 1981, Heinrich decided to work for TEXCO half time and founded a Company in Meilen Switzerland, for the sole purpose to act as liaison office for TEXCO. It was not easy, since we started again from zero! TEXCO shifted three times offices. First we were situated near the Airport Hotel, Ikeja. Later we rented a house at Oduduwa Way, GRA Ikeja, just opposite the Army Barracks. Finally I had enough in negotiating new rents and being at the mercy of landlords. Via our Company Lawyer, Chief John Edozie, I acquired, a plot of land, at a completely virgin site. IPTC did not want to invest in fixed assets, therefore Mr. Squindo of IPTC Paris and MD of IPTC (West Africa) Ltd., offered me a solution with pre-fabricated housing units. I liked the idea and I went to Paris in order to make all arrangements. I intended to become SIPAT's agent (the manufacturers of the prefab units), in West Africa and the "TEXCO VILLAGE", situated at 18/20, Ramson Street. Ajao Estate, Mafoluku, Lagos, Nigeria, should become a show piece. Unfortunately SIPAT, the manufacturer of these brilliant units went soon after completion, of this project in 1978, bankrupt. That made us the only inhabitants in Africa. After all they lasted for 25 years in this tropical climate! We were the first residents of Ajao Estate at Oshodi-Apakun (near to the Lagos Murtala Mohammed Airport), and an easy target of many robbery attacks! . We were also ideally situated, near major Textile Mills, in the Lagos area.

Heinrich died on 11.01.2017 at the age of 89 in Switzerland.