The Sika Group, headquartered in Switzerland, has acquired the assets of Duro-Moza, a Mozambique company specialised in building mortar and tile cements, for an undisclosed amount, the group said in a statement issued Tuesday.
The group, which created Sika Moçambique in 2014, said “the transaction will accelerate development and market penetration,” giving the Mozambican subsidiary “an ideal start with its own production facility and an already established customer base in the construction sector, which is growing rapidly.”
Duro-Moza is a Mozambican construction materials company, which posted turnover of approximately US$2.2 million in 2014.
The Sika Group has subsidiaries in 90 countries and runs over 160 factories, with 17,000 employees and a turnover of almost US$61 billion last year, according to information available on the company website. (macauhub/MZ)