PAREXGROUP ENTERS ALGERIA

 

Paris, April 18th 2017 - PAREXGROUP announces it took a 49% shareholding and the control of Mortero. With a plant located in Bejaia (Algeria), the company has become a leader in the local drymix market with its 74 employees. Mortero and PAREXGROUP signed a license agreement in 2008. The production of tile-adhesives started in 2011 and façade products made a remarkable start in 2014 under the Parexlanko brand. The company grew fast from scratch to reach 4M€ in 2016.

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PAREXGROUP is happy to enter the capital of Mortero along its founder and owner, Abdelaziz Madaoui, and his son Lounes, who runs the operations.

Algeria will become a significant market for the group: its 40 million population is young and the needs in terms of housing and infrastructure are considerable for our three market segments.

We warmly welcome the Mortero team in the PAREXGROUP family.