CHRYSO ACQUIRES EUROMODAL AND ENLARGES ITS OFFERING FOR CONSTRUCTION MATERIALS IN PORTUGAL
CHRYSO, a world leader in construction chemicals for concrete and cement as well as developing added-value and innovative solutions for the building industry today announces the acquisition of EUROMODAL.
EUROMODAL is a Portuguese family company which was set up in 1986. It manufactures a broad range of construction chemicals in a brand new automated plant located near Porto, and offers services ranging from technical support, the formulation of mix designs and on-site support.
Present in Portugal since 1993, CHRYSO has been servicing the most relevant infrastructure projects in the country through its extensive customer portfolio of cement manufacturers, concrete producers (ready-mix and precast) and construction companies which benefit from the Group’s extensive experience in the chemical sector, and in the formulation and knowledge of construction materials.
Commenting on the transaction, Thierry BERNARD, President & Chief Executive Officer of CHRYSO, said:“We are delighted to integrate EUROMODAL in our Group and look forward to working with the talented people who will become part of the CHRYSO business. The combination of our operating businesses in Portugal will increase the product mix and strengthen our presence as market leader. The local production, the world-class local concrete laboratory and strong technical service will benefit our customers. After our recent acquisitions in Italy and in Ireland, this move demonstrates our willingness to enhance our positions in geographies where customers see benefits in value-added solutions and differentiated offerings.”
Francisco ARAUJO, CEO of EUROMODAL, becomes General Manager of CHRYSO in Portugal. He also commented “We see great potential ahead being a part of the CHRYSO Group, with a high level of commitment to assist our customerson the most challenging jobsites”.
The consideration for this acquisition is not disclosed.