Lisbon, Portugal, 27 Feb – Portuguese drinks group Sumol-Compal said Friday in Lisbon it had agreed to buy a factory on the outskirts of Maputo to produce the group’s branded products in Mozambique, according to a statement filed with the market regulator.
In a statement published by the Portuguese stock market regulator, CMVM, the Portuguese group said it had signed a promissory contract to buy the factory and that the operation would be carried out in the first half of March.
“An investment of around 8 million euros,” is expected in the first year of business of a factory that is expected, “to produce and sell products of the [company’s] brands in the Mozambican market and in 12 of the remaining 13 countries,” that are also part of the Southern Africa Development Community (SADC).
“Angola, which is part of the SADC, will not be covered by this project,” the statement said.
In order to carry out this investment in Mozambique, the S+C group has set up Sumol+Compal Moçambique, a Mozambique-based company in which the Portuguese company, “in the launch phase will have a 90 percent stake.”
Sumol+Compal last year sold products totalling 80 million euros to foreign markets, also according to the statement, or 30 percent more than in 2010. (macauhub)