Portuguese drinks company Sumol+Compal Tuesday formally acquired an industrial unit in Mozambique for US$10.4 million. The factory will produce the company’s brands of drinks for the local market the company said in a statement filed with the Portuguese market regulator in Lisbon on Tuesday.
In a statement filed with Portuguese stock market regulator, CMVM, Sumol+Compal said that production at the new factory in Mozambique, the company’s first unit outside Portugal, would begin in the third quarter of the year.
“Sumol+Compal Moçambique will in its launch phase be 100 percent-owned by Sumol+Compal, and there are plans to sale stakes that altogether make up 25 percent of the company to local shareholders,” the company said.
The aim of the new company is to guarantee production and sale of Sumol+Compal products on the Mozambican market and in 12 of the remaining 13 countries that are part of the Southern Africa Development Community (SADC).
Sumol+Compal has a presence in Morocco, Senegal, Angola and South Africa, amongst other African countries. (macauhub)