JOHNANNESBURG, SOUTH AFRICA — According to allafrica.com, flooring and chemicals group Safic’s acquisition of Centurion Aluminum and Glass last year was only the first in a number of planned acquisitions by the company.
Although the company would not discuss future acquisitions in detail, it was confirmed that Safic would be looking to acquire companies that will expand its product offerings. Safic experienced a 50% increase in earnings last year as construction boomed in South Africa. The 30%-black-owned company stands to benefit from flooring contracts with the government based on upcoming planned development including schools, hospitals, stadiums, police stations and prisons.
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