March 13, 2008
-- Shoreline and Hallmark AG today announced the closing of its acquisition of a Majority stake in Alumaco PLC a company Listed on the Nigerian Stock Exchange.
The acquisition continues Shoreline’s consolidation of the Construction and Allied products industry and creates immediate revenue accretive synergies with Shoreline’s portfolio companies in various Infrastructure sub-sectors.
“We are very pleased to have Alumaco as part of The Shoreline Group and to have the opportunity to expand our presence in an important manufacturing sub-sector,”
said Kola Karim, Chief Executive Officer of Shoreline Energy International. Alumaco continues our drive to diversify and collapse supply chains into the group. Our portfolio companies will now be in a far stronger position going forward to meet the increasing challenges and opportunities from our customers. The addition of Alumaco provides further diversification of our business that brings new products and customers in important geographic areas.”
Shoreline has an excellent management team in place and we look forward to working with them for continued growth and success,” said Mr Roland Hubatka, Chief Executive Officer of Hallmark.
Shoreline is a leading Energy and Infrastructure Group operating in Africa. Shoreline has grown rapidly through acquisition. Recent acquisitions:
ABB Electrical Systems (Nigeria), Costain (West Africa) PLC, Schlumberger testing and production (Nig). The Group continues to focus on Integrated Infrastructure and Energy leadership in sub-Saharan Africa.
Alumaco Plc is engaged in the Manufacture and Marketing of Aluminium Products including products for the Construction and other Industries