Algerian acquisition boosts Chryso Group's African penetration
The Chryso Group has expanded its presence on the African continent with the establishment of production facilities in Algeria.
Norman Seymore, vice-president of the Chryso Group globally, and CEO of Chryso Southern Africa, says in 2014 the Chryso Group set up a joint venture with its Algerian partner, Hydipco, to boost Chryso business development in Algeria.
“Hydipco has a strong local team and modern production facilities which made the company an ideal Chryso subsidiary. Consequently, the Chryso Group acquired the Algerian company and formed Chryso Hydipco, which began operations under this banner very recently.
Chryso Hydipco is now in a position to supply the Group’s expertise and technical know-how as well as the full Chryso cement and concrete product range, including admixtures, to Algerian construction firms.”
The Algerian construction industry is steadily growing, supported by private and public investment in infrastructure, residential, commercial and institutional construction projects, as the country strives to diversify its economy and reduce its dependence on oil.
This has increased the demand for building materials in Algeria.
This latest Chryso Group subsidiary follows the establishment in mid-2015 of Chryso East Africa, with headquarters in Nairobi – the construction chemicals group’s first production subsidiary outside South Africa.
“It is the Chryso Group’s intention to expand further into Africa, and there is a possibility of opening production facilities in West Africa. We already have increased our Group’s representation in countries such as Angola, Mozambique, Ghana, Nigeria, Namibia, Zambia, Botswana and the Indian Ocean islands. The Chryso Group is, in fact, in the midst of an exciting phase of global growth,” Seymore states.
The Chryso Group became an independent business in September 2014 following its acquisition from its parent company, the Materis Group, by French private equity firm, LBO France.
“The new credit line that the LBO acquisition has provided has increased the pace at which Chryso Southern Africa is being developed, and has resulted in Chryso Southern Africa becoming a springboard into Africa,” he added.
More information from Kirsten Kelly, Tel:+27(0)113959700/www.chryso.com
Caption: The Chryso Group has opened production facilities in Algeria, where the local construction industry is steadily growing.