The Moroccan Omnium Nord Africain (ONA) Group decided to cancel the merger of the group’s industrial facilities with the American Coca-Cola Company in Morocco. ONA did not offer an official explanation for the refusal, however, sources at ONA asserted that the project did not present itself to be economically feasible to many shareholders, reported Al-Hayat.
The project was first introduced in 2000 when the industrial branch of the Barasri De Maroc Group, belonging to the National Investment Company, started negotiations with the Coca-Cola Holding Company in a bid to coordinate beverage manufacturing and marketing activities.
ONA reported that its beverage sales amount to two billion dollars in Moroccan markets and $500 million in European markets. Moroccans consume 300 million liters of carbonated beverages annually. The American giant Coca-Cola Company spends seven million dollars on advertisements in Morocco annually.
ONA is Morocco's largest private company, providing farm, fish, sugar and milk products as well as edible oils to African markets. They export goods and equipment to other African countries and have operations in hypermarkets, mining exploitation, automobile assembly and sales, real estate, holding companies. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
