AECI acquires Much Asphalt for R2.27bn
“Much Asphalt has a market leading position with long-established customer relationships, a robust order book and project pipeline, and a highly-experienced management team,” AECI said in a statement on Monday.
“Spend on roads in South Africa has increased by a compound annual growth rate of 12.7% over the past six years, evidence of government’s commitment to infrastructure development,” AECI CEO Mark Dytor said.
“The development of road infrastructure on the continent is a prerequisite for economic growth. Given AECI’s extensive footprint, there is plenty of scope to build the business and the dream of a prosperous, thriving Africa,” he said.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online