To increase its presence in Africa, AMECO, a unit of Fortune 200 company- Fluor Corporation, has acquired ServiTrade, a Mozambique-based construction equipment rental and project services company. ServiTrade provides fully operated and maintained equipment, camp services, transportation, and batch plant services to the infrastructure, mining, natural gas and power industries with an execution model aligned with AMECO's. Financial terms of the acquisition were not disclosed.
"One of our strategic growth initiatives has been to increase our presence in Africa, so AMECO took this approach to expand in the market and position early in this high growth region," said Gary Bernardez, president of AMECO.
"ServiTrade's long-term presence and high level of activity with AMECO's global accounts, stable economic factors and the desire to establish a sustainable presence in sub-Saharan and eastern Africa further solidified our decision."
Founded in 1998, ServiTrade is one of east Africa's premier project services companies for projects throughout the region. ServiTrade is based in Maputo, Mozambique, with additional locations throughout the country.
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