Last checked at 20 Mar 2019 07:00
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company" and, together with its subsidiaries, the "Group")
RA International Group PLC Expands Operations in Mozambique
RA International Group PLC (AIM: RAI), a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce the Group has significantly expanded its operations in Mozambique. The Group has successfully concluded an agreement to acquire a 150,000 m2 parcel of land in Northern Mozambique and aims to commence building a large camp facility within months, in support of the upcoming gas projects in the region. Negotiations are already underway with potential anchor tenants.
In addition, the Group has successfully acquired a 49% shareholding in Royal Food Solutions S. A (RFS), a family-owned Mozambique based provider of integrated facilities management services. RFS currently provides catering services to Mozal, KPMG, and Vodacom, making it the premier catering contractor in the country. The strategic investment in RFS will enhance the Group's ability to provide fully integrated camp services in Mozambique and RA International's enlarged presence in the region will position the Group well to capitalise on future opportunities.
Soraya Narfeldt, CEO of RA International, commented: "We are pleased to be increasing our strategic presence in Mozambique, which follows a detailed analysis of the potential opportunities available to RA International in the region. The land purchase and proposed establishment of a camp facility will result in the Company having a sizeable footprint in Mozambique which delivers on our geographical diversification plans.
"The acquisition of a stake in Royal Food Solutions will combine both companies' strengths, capabilities and local knowledge. We look forward to working with the RFS team and within the community."
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Enquiries:
RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
| Via Hudson Sandler |
Cenkos Securities PLC (Nominated Adviser and Broker) Beth McKiernan Derrick Lee
| +44 (0)131 220 6939 |
Hudson Sandler LLP (Financial PR & IR) Daniel de Belder Nelly Akpaka
| +44 (0)207 796 4133 rainternational@hudsonsandler.com |
About RA International
RA International is a leading provider of services in remote locations across Africa and the Middle East. It specialises in three service verticals: construction; integrated facilities management; and supply chain. It has a strong and loyal customer base, largely comprising UN agencies, western governments and global corporations.
The Group provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. RA International's focus on integrity and values alongside on-going investment in people, locations and operations has over time created a reliable and trusted brand within its sector.