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Cambria Africa : CMB – acquisition

Cambria Africa is issuing 5.5m shares to buy Chemicals & Marketing Company Ltd, based in Malawi. Cambria Africa says that the deal gives its Millchem subsidiary access to a national chemical distribution network across Malawi and that it “has a strong asset base for logistics and production and also provides Millchem with new supplier relationships, a large library of formulations, as well as attractive international trade finance relationships”.

Chemicals & Marketing Company grew out of ICI’s business in Malawi. It generated EBIT of $177,000 on sales of $2.5m in 2013.

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