Already a Bloomberg.com user?
Sign in with the same account.
July 4 (Bloomberg) -- Harel Mallac & Co., a Mauritian group with interests in chemicals and engineering, expects its Africa operations to expand to at least 30 percent of revenue in three years, Christopher Boland, the chief executive officer, said.
Acquisitions are one of the options it is considering to expand outside of the Indian Ocean island nation, Boland said in an interview yesterday in the capital, Port Louis, without giving details on options being looked at. The group’s HM International unit made up 10 percent of revenue in 2010, he said.
“We cannot remain in Mauritius,”, Boland said. “There is clearly growth potential in Africa.”
Harel Mallac has offices in Madagascar, Zambia, Tanzania, Rwanda and Burundi, and also services other Eastern African countries. The Port Louis-based group sells Dell and IBM brands through its technologies division and Haier and Daewoo products through its engineering business, according to the company.
Revenue for the year through December rose 13 percent to 3.15 billion rupees ($112 million), its annual report showed. The technologies unit contributed 36 percent and chemicals 35 percent of group revenue.
--Editors: Gordon Bell, Karl Maier
To contact the reporter on this story: Kamlesh Bhuckory in Port Louis at email@example.com
To contact the editor responsible for this story: Antony Sguazzin at firstname.lastname@example.org