The restructuring is believed to have been called as a result of the company's business lull, a situation which Omatek managing director Florence Seriki confirmed herself when the Minister of Commerce and Investment Femi Aganga-Williams visited some key indigenous companies in the Lagos area to see first hand how they were doing. At that occasion early last month, August Seriki lamented that indigenous manufacturers such as her company were not getting adequate financing from the banking sector, even as their costs are rising, due to higher inflation levels and higher naira exchange rates.
Two notable creative agencies- STB McCann and SO&U Saatchi &Saatchi-- are on the company's roster but Omatek has been off the advertising activity radar for awhile now, a situation which observers attribute to management's cost-cutting programme. But this may well be a double-edged sword, as Omatek had cut advertising at a time when its competitors are stepping up their advertising and other brand building campaigns to gain more market share. Samsung, HP, LG, Acer are frequent advertisers in local mass media, especially TV and newspapers.