Global construction chemicals producer, the Chryso Group, has acquired the controlling shareholding of Sri Lanka’s CST (Concrete Solutions Technology Lanka Pvt Ltd), a licensed producer and distributor of Chryso products in Sri Lanka since CST’s inception in 2010.
This follows the acquisition of Chryso itself by European equity firm, LBO France, in 2014. Norman Seymore, vice president of the Chryso Group globally and CEO of the Chryso Southern Africa Group, said the new ownership would Chryso facilitate Chryso’s future growth strategy.
Seymore will form part of the team to drive the operations of Chryso/CST based in Seeduwa, close to Colombo International Airport in Sri Lanka.
“CST is extremely active in the concrete admixture and construction systems markets in Sri Lanka and is an appropriate platform to service fast-growing local demand: the admixture market in Sri Lanka has grown by ±30% in the past few years.
The Sri Lankan market will benefit from the Chryso Group’s expertise, technology and innovative solutions. Chryso is now the only admixture producer to have a fully installed manufacturing plant in the competitive Sri Lankan market.
CST is also well equipped in technology and quality control and has its own laboratory on site,” Seymore stated.
“a.b.e. Construction Chemicals, another member of the Chryso Southern Africa Group, has products already being distributed in Sri Lanka by CST.”
Seymore said: “CST has shown impressive growth and would benefit from the foreign investments and opportunities offered by a GDP growth of 7 to 9% predicted for Sri Lanka in the next five years.
Ebrahim Seedat, founder of CST, is now MD of Chryso/CST and serves on the new company’s board of directors with Seymore and Chryso executives, Thierry Bernard, the Chryso Group’s CEO and Jerome Besnoux, Chryso Gulf GM.
More information from Norman Seymore, Tel:+27(0)11 306 9000 / www.chryso.com
