The global Chryso Group has announced another new acquisition – this time of a major construction chemicals producer in Portugal.
Thierry Bernard, president and CEO of the Chryso Group, says the new member of the Group, Euromodal, is a Portuguese family company established in 1986. It manufactures a broad range of construction chemicals in a brand new automated plant near Porto, and offers services ranging from technical service, formulation of mix designs, and on-site support for the construction and civil engineering sectors.
“Euromodal has built its leadership in Portugal based on similar values as Chryso’s: strong client relationships and proximity, outstanding service and excellent product quality. We are delighted to integrate Euromodal into the Chryso Group and look forward to working with its talented people who will become part of the Chryso business,” states Bernard.
He says the acquisition will increase Chryso’s product mix and strengthen its presence as market leader in Portugal. Euromodal’s local production, world-class concrete laboratory, and strong technical service would benefit Chryso customers in Portugal.
Fransisco Araujo, CEO of Euromodal, will become MD of Chryso in Portugal, reporting to Diego Lopez de Aczona, Chryso’s area director: Mediterranean and Northern Europe.
The new acquisition follows Chryso Group’s expansion of admixture business in Ireland last month with the takeover of Chemtec Admixtures, a major player in the growing Irish construction market. Earlier this year, Chryso announced that it had acquired relevant assets of Ruredil S.p.a. in Italy.
Norman Seymore, CEO of Chryso Southern Africa and vice-president of The Chryso Group globally, says strategic acquisitions have played a major role in the group’s organic growth in recent years. “Chryso now has 24 subsidiaries globally, sells to 80 countries, and holds leading market positions in the United States, Europe and the Middle-East, Africa and Asia. Our admixture technologies have been used in some of the most complex construction projects of the last decade,” says Seymore.
Seymore was at the company’s helm when Chryso started operating in South Africa 22 years ago. The Chryso Southern Africa Group now includes a.b.e. Construction Chemicals, acquired in 2010, to expand Chryso Southern Africa’s product offering to the local construction sector, and Chryso is also represented in several other African countries, with production facilities in Kenya and Algeria.