Faresin Formwork and Ethio Engineering Group sign an agreement

The agreement with the Ethiopian state-owned company will develop the formwork and scaffolding systems market in Ethiopia.

Faresin Formwork welcomed Her Majesty the Ethiopian Ambassador in Italy Miss Demitu Hambissa and Misganu Arega, Honourable Ambassador and CEO of Ethiopian Ethio Engineering Group, at its Headquarters in Breganze, in the Vicenza Province.

Ethio Engineering Group is an Ethiopian state-owned company whose mission is to develop and industrialise the country of Ethiopia. The agreement will allow the growth of the construction industry in the Ethiopian market, specifically for formwork and scaffolding systems, through an accordance to locally produce the materials, with technology supplied by Faresin Formwork. The aim is also to develop skills and to create a long-term agenda for the training of engineers, metalworkers and operators at construction and production sites.

This partnership agreement is a great market opportunity in which both Ethio Engineering Group and Faresin Formwork strongly believe, thanks to the great historical relationship between the Italian and Ethiopian people, the consolidated presence of the company in the country – which signed its first agreement in 2014 – and the role that the African country has in the economic growth of the African continent: Addis Ababa is in fact the permanent headquarters of UNECA, the United Nations Economic Commission for Africa. As stated by Her Excellency the Ethiopian Ambassador to Italy, Ethiopia has a large development potential and it is Africa's main beneficiary in attracting foreign direct investments, an opportunity that Italian companies must seize in the coming years.

Giacomo Dalla Fontana, board member in Faresin Formwork, who has been developing the African market for over 20 years, signed the agreement with Ethio Engineering Group, stating that this will open up a great market opportunity in Ethiopia for the company. The Breganze-based company strongly believes in the sustainable development of its business partners, with a particular focus on developing countries, because it is imperative that business must be ethical and a mean and opportunity to grow for all parties involved.

Ethics and reliability in the development of foreign trade, of which Faresin Formwork is a true Venetian ambassador in the world, were also emphasised by others present, Roberto Ciambetti, President of the Veneto Regional Council, Devis Poli, Councillor of the Municipality of Breganze representing the Mayor, and Renata Cavedon of Confindustria Vicenza.

Education and training for the local population in Ethiopia and involvement in the country's development and industrialisation process, to support Ethiopian economic growth in the long run: the agreement signed between Faresin Formwork and Ethio Engineering Group represents a long-term partnership that will create jobs and widespread economic and social well-being.

The team of engineers, offices and production departments at Faresin Formwork enthusiastically took part in the signing of the agreement, which will make the entire company part of this great project.