Compal production in Angola starts in the third quarter – publico

                 

                         
                     

                         

                 

 
                         

The Sumol + Compal prepares to kick-start production Compal juices in Angola in the third quarter, and Sumol at the end of the year. The Portuguese company has invested 9.3 million euros between January and March, the vast majority in the new production plant and packaging of juices, nectars and soft drinks in what is its main customer out of Portugal.

                     

                         “The conversion work of the industrial unit of Bom Jesus on the outskirts of Luanda, are progressing according to plan and it is expected the start of local production of Compal in the third quarter of this year and Sumol later this year,” reads If the statement that Sumol + Compal submitted, on Friday, the Securities Market Commission (CMVM).

At the end of last year, the Copagef, group company Castel, capital French and shareholder of the Angolan beer Cuca, bought 49.9% stake in Sumol + Compal Brands by 88.2 million euros. The group Castel is one of the largest producers of beer and soft drinks and the second largest in Africa (it has a dominant share in the Company’s Beers Union of Angola, owner of Cuca) and, with the new shareholder, the Portuguese company plans to expand business on the continent.

“The effort in the geographical diversification of markets has given positive signs, particularly in Africa, capitalizing on the strong presence that Copagef (new partner in the shareholder structure of Sumol + Compal Marks) has in these markets , a trend that is expected to see consolidated during the year, “said the statement.

Between January and March, the Sumol + Compal had profits of a million euros, compared to 1.1 million losses in the same period of 2014. Total sales amounted to 71.5 million euros, up 19% over the first quarter last year, reflecting the growth in turnover of around 11.2% in Portugal (46.7 million euros ) and 37% in foreign markets (EUR 24.8 million).

It is expected to continue to increase sales outside of Portugal but developments in Angola may be “conditioned by the possible introduction of import quotas high rotation drinks and the shortage of foreign exchange. ” Building a local factory is therefore important for the Portuguese company ensure production and supply to its main client.