Sale of Mabor de Moçambique tyre factory to Portuguese company Camac has no date set

28 March 2011

Maputo, Mozambique, 28 March – Negotiations leading to the transfer of ownership of bankrupt tyre factory Mabor de Moçambique – Manufactura de Borracha to Portugal’s CNB/Camac – Companhia Nacional de Borrachas are facing some problems, Mozambican news agency AIM reported.

The agency cited the chairman of state stake-holding company Instituto de Gestão das Participações do Estado (Igepe), Hipólito Hamela, who last Thursday in Maputo said that Mabor was not yet owned by Camac as negotiations were still underway.

What had happened, according to Hamela, was that the prime minister had authorized Igepe to negotiate directly (without a public tender), the sale of Mabor’s assets to that Portuguese company, a process which had yet to be concluded.

The chairman of Igepe declined to explain the points that were delaying the process, arguing that these were issues that could not be made public for now in order to ensure the deal went ahead, but on Friday Mozambican newspaper Notícias said that one of the reasons for the stalemate may be the fact that Camac wanted the Mozambican state to be a shareholder in Mabor.

Also according to Notícias, the government is not interested in taking a stake, in a clear strategy of leaving the business to be operated exclusively by the private sector, as was the case with glassmaker Vidreira e Cristaleira de Moçambique.

Mabor is one of several of the 131 companies in which the Mozambican state had a stake, which started facing problems at the end of the 1990s.

In its “golden age” Mabor produced enough tyres for both domestic and export markets, specifically the regional market. (macauhub)