AECI buys Much Asphalt in R2.3bn deal as it branches out
The explosives and chemicals group backs continued robust roll-out of roads in biggest deal
30 October 2017 - 09:08
In one of its largest transactions, AECI has bought Much Asphalt, Southern Africa’s largest supplier of hot and cold asphalt products, for R2.3bn in cash, saying the outlook for road infrastructure in SA is extremely positive. Much Asphalt will operate as a standalone entity in the explosives and speciality chemicals company, but there is potential to combine supply chains, geographic networks and best practices. AECI says the acquisition is subject to conditions precedent.
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