MC-Bauchemie acquires majority of a company in Ethiopia
By the end of November 2018, an entity of the MC-Bauchemie Group acquired the majority of shares in Licon Manufacturing PLC, a manufacturer of plasters and building material products in Ethiopia, from Conmix Ltd., as well as a certain amount of shares from the minority shareholder Licon PLC.
The MC-Bauchemie Group – which has been operating in Africa with its own entities in Guinea and Ghana for several years, is thereby expanding its activities to East Africa and thus its presence on the African continent as a whole. “Ethiopia's construction industry has been growing at an aboveaverage rate for several years”, says Dr. Ekkehard zur Mühlen, Managing Director of MC-Bauchemie Müller. “We want to participate in this strong growth in one of the most populous African countries with our product systems and new technologies.”
About Licon
Licon Manufacturing PLC was founded in 2009 in Addis Ababa and has since been producing plasters, tile adhesives, mortar and concrete admixtures as well as repair materials for the Ethiopian construction market. The company currently employs 80 people in production, R & D, administration and sales.
Image source: Pixabay
