Forafric Acquires SIMS mill in Marrakesh Increasing Crushing Capacity to More Than 300 Tons per Day
Forafric Global PLC (NASDAQ:AFRI, or "Forafric"))), a vertically integrated agribusiness serving Africa, today announced as part of its strategy to double crushing capacity in Morocco over that next two years, that it has acquired 90% of Société Industrielle de Minoterie du Sud ("SIMS"), a soft wheat milling company with primary operations in Marrakesh.
"This acquisition enables us to expand our crushing capacity rapidly by more than 300 tons per day with minimal capital investment," said Saad Bendidi, Chairman of Forafric. "SIMS has recently been operating at less than 50% capacity due to capital constraints. We are preparing to launch activity during August. Furthermore, this transactio
