Multi-Color Invests Further In Africa
CINCINNATI—Multi-Color Corporation (MCC) announced it has entered into a property contract to acquire larger facilities in Paarl, South Africa. This $2.3 million (RSA Rand 17.5 million) property investment secures a long-term home for the current MCC Collotype Labels business in South Africa and provides significant room for expansion.
“We have enjoyed substantial growth in South Africa in the last six years and we are excited about future prospects,” said Nigel Vinecombe, MCC President & CEO. He added, “This property purchase and subsequent refurbishments will be funded from current cash reserves in South Africa. We are delighted to reinvest in our business and team that have established a proven track record over many years in this developing market.”
The new property will be purchased in 2011 and refurbished. It will be ready for relocation prior to the expiration of the current facility lease.