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Atlas African Industries Ltd (ADSS)

End of day - Oct 17, 2016
+0.05 (+5.00%)
1.05   +0.05 (+5.00%)
End of day - Oct 17, 2016
1.05 - 1.05
52-week Range
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Market Commentary

Atlas Development Support Services is an African focused support services and logistics company with established offices across East Africa as well as Liberia. The company provides support service solutions to various sectors including oil & gas, mining, construction, NGOs and the Government. It is cross listed on the London Stock Exchange AIM, and the Growth Enterprise Market Segment of the Nairobi Securities Exchange

Brief Company Profile

Market Segment: Growth and Enterprise Market Segment
Sector: Commercial and Services

Atlas African Industries Limited, formerly Atlas Development & Support Services Limited, is engaged in building a business based on the provision of support services and the investment in and development of industrial projects with a particular focus on the Ethiopian consumer market. The Company provides international-standard services. Its industrial division is formed to access the multiple opportunities within the East African consumer market, with an initial focus on consumer-based industrial projects. The Company, through its subsidiary, East Africa Packaging Holdings (EAPH), is focused on building a glass bottle manufacturing facility approximately 45 kilometers north of Addis Ababa, Ethiopia (the Chancho Project). The Company's Chancho Project is in feasibility-stage.

Atlas African Industries Ltd, which has a joint venture agreement with leading Ethiopian conglomerate Orchid Group to provide international-standard services, is leveraging its expertise in civil engineering and project management to diversify its business offering into industrial projects. The Company moved to shut down its Kenyan subsidiaries recently after a downturn in the oil and gas exploration sector. Atlas owned three subsidiaries in Kenya; Ardan Logistics Kenya Limited, Ardan (Medical Services) Limited, and Ardan (Civil Engineering). It opted to remain listed at the NSE after exiting its Kenya businesses. Atlas is also listed at the London Stock Exchange.

Jan 16, 2017
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