CEPSA Expands into Moroccan Asphalt Market with Strategic Acquisition

The transfer of shares between Cepsa and Madjaline Holding comes at a "complicated" period of health crisis coupled with an economic crisis, which proves that Morocco remains a safe industrial destination. The reliability and stability of Madjaline Holding and its companies Sorexi and Bitulife are no longer to be proven: one with more than 90 years of experience, three factories in Nador, Casablanca and Agadir all with large production and storage capacities, and the other, active for almost 20 years in the market of production and distribution of waterproofing products.

"The willingness of a company like Cepsa to unite with our group through this participation denotes our ability to reach international standards in the sector...", declares Aniss Elbied, founder and CEO of Madjaline Holding.

For his part, Pierre-Yves Sachet, commercial and strategic growth director of Cepsa, explains that "the acquisition of a significant stake in Sorexi and Bitulife, constitutes for Cepsa, a new stage in the development of its commercial activity, after 30 years of activity in Morocco, a country with an interesting growth potential".