Chryso acquires majority stake in APTEX

The Chryso Group has signed of an agreement to acquire a majority stake in APTEX, a Moroccan construction chemicals company. The Chryso brand has made construction chemicals for the Moroccan market for more than 30 years, while APTEX has been operating for two years in the country, and has a production unit and an application laboratory located in Casablanca.

The Chryso-APTEX joint venture will provide cement manufacturers, concrete and precast producers, applicators, construction companies with a complete range of admixture solutions and decorative products for concrete, cement additives, and liquid screeds as well as dedicated services.

Thierry Bernard, CEO of Chryso, declared: "By acquiring a majority stake in APTEX, we sustain our long-term relationship with our Moroccan customers and strengthen our local roots in Morocco. We will thus accelerate the deployment of new technologies and support manufacturers in the development of high-performance, environmentally friendly building materials."

The transaction remains subject to the approval of the competent regulatory authorities and is expected to be completed during the 4Q20.