To increase its presence in Africa, AMECO, a unit of Fortune 200
company- Fluor Corporation, has acquired ServiTrade, a Mozambique-based
construction equipment rental and project services company. ServiTrade provides
fully operated and maintained equipment, camp services, transportation, and
batch plant services to the infrastructure, mining, natural gas and power
industries with an execution model aligned with AMECO's. Financial terms of the
acquisition were not disclosed.
"One
of our strategic growth initiatives has been to increase our presence in
Africa, so AMECO took this approach to expand in the market and position early
in this high growth region," said Gary Bernardez, president of AMECO.
"ServiTrade's
long-term presence and high level of activity with AMECO's global accounts,
stable economic factors and the desire to establish a sustainable presence in
sub-Saharan and eastern Africa further solidified our decision."
Founded in 1998, ServiTrade is one of east Africa's premier project services companies for projects throughout the region. ServiTrade is based in Maputo, Mozambique, with additional locations throughout the country.
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