Atlas Dev & Support Services Ltd said it has completed its acquisition of East Africa Packaging Holdings Limited (‘EAPH’).

In a statement it has released on Friday, December 4, 2015, Atlas said this acquisition follows the Company’s recent establishment of new glass bottle manufacturing facility situated 45 kilometers north of Addis Ababa, Ethiopia.

Carl Esprey, CEO of Atlas, said: “The Chancho Project is currently in feasibility stage and will provide Atlas with access to the rapidly growing Ethiopian consumer market.”

He also noted that, “This acquisition will result in high quality, locally produced glass bottles being available to the growing Ethiopian beer and beverage industries.”

According to Atlas, Ethiopia has been attracting significant investment from international beverage companies. The beer production, for example has been growing at a compound annual growth rate of 14.3 percent in the past 14 years, Atlas’s statement indicates.

Source: The Daily Monitor