Fosroc
Fosroc enters into a JV with Chemtech, a leader in the Egyptian construction chemicals industry
Posted on 1 December 2020
Fosroc enters into a JV with Chemtech, a leader in the Egyptian construction chemicals industry
Fosroc, a leading international manufacturer of high-performance chemicals for the construction industry and, ChemTech, a leading construction chemicals company headquartered in Cairo, Egypt have entered into a joint venture to manufacture and distribute Fosroc’s full range of construction chemical materials.
The joint venture will operate from a production facility in 6th October City Cairo, which is currently undergoing comprehensive renovations with installations of state-of-the-art machinery. Fosroc will fully manage the joint venture’s operations and all products will be manufactured under Fosroc specifications and sold under the global Fosroc brand. ChemTech and Fosroc will each hold ownership stakes of 50% in the joint venture.
“Fosroc has enjoyed a strong foothold in the Middle East and North Africa since our entry into the market in the 1970s,” said Ian Watt Fosroc CEO. “We are intimately familiar with the dynamics of the regional market for construction chemicals and see Egypt’s ongoing economic recovery as a major driver of growth over the coming years. Our new partnership with Egyptian market leaders in ChemTech provides a platform to continue deepening our market footprint and further consolidate our strong brand recognition with construction industry stakeholders throughout the region,” he concluded.
Fosroc offers a full range of specialized construction chemicals covering an expansive array of applications, and enjoys a network of office and manufacturing locations spanning 23 countries and seven regions. ChemTech, is currently owned by Hassan Allam Holding, a leading construction and engineering group in Egypt, Middle East and Africa and the Bakry Family the principal of InsuTech, a leading regional provider of waterproofing, thermal insulation and polystyrene foam solutions, leveraging a world-class network of four production facilities to serve clients across Egypt and more than 80 international markets.
“We believe that ChemTech’s joint venture with Fosroc is a landmark step on our journey to expand our business and complement our core product offerings. The venture is also an important moment for the development of the broader Egyptian construction chemical industry, which will now benefit from a significant investment in specialized technologies and know-how” said Ahmed El Bakry, ChemTech Chairman.
The JV’s product portfolio includes a broad range of construction chemicals, including concrete admixtures, repair and grout materials, surface improvement and mortar additives, industrial floorings, cementitious and bituminous waterproofing, tile adhesives, joint sealants and cement grinding aids.
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