Nigerian conglomerate UAC plans 15.4 bln naira rights issue

uacplcNigerian conglomerate UAC is seeking regulatory approval to raise 15.4 billion naira ($42.3 million) from existing shareholders and expects a stronger result for the second half of the year, the company said on Monday.

The company said it had shareholder approval for the share sale and was hoping to launch the offer around September or October, once it gets the green light from the Securities and Exchange Commission.

UAC, with interest in real estate, paints, foods and livestock feed, last week posted a 59 percent fall in pretax profit to 1.63 billion naira for the half-year to June.

($1 = 364.0000 naira)

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

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Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

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Geldof’s 8 Miles invests in African fruit firm

Irish rock star Bob Geldof’s 8 Miles private equity fund said on Monday it had acquired a minority stake in UK-incorporated Blue Skies, a fresh-cut tropical fruit producer with operations in several African countries.

Financial details of the transaction were not disclosed.

Blue Skies, founded in 1997 and with more than 4,000 employees to its name, posted revenues of 89.6 million pounds ($113 million) for the year ending December 2016.

It has plans to expand its core fresh-cut fruit business, increase production capacity in South Africa, launch a fresh juice operation in Egypt and develop new product lines for some of its markets in Africa.

Africa-focused 8 Miles, whose name comes from the shortest distance between Europe and Africa across the Straits of Gibraltar, typically invests $15-$45 million at a time.

Its portfolio includes Ethiopian wine producer Awash Wines, Ethiopian feedlot operator Verde Beef Processing, Uganda’s Biyinzika Poultry and Nigerian biscuit-maker Beloxxi Industries.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
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Nigeria Determined To Overcome Recession This Year

Nigeria is determined to emerge from its first recession in a quarter of a century this year and needs to put more effort in revamping its infrastructure, its budget minister said on Wednesday.

Udoma Udo Udoma said the economy was beginning to recover after it experienced a smaller contraction in the fourth quarter, although it was still in a recession.

“The 2017 budget is structured to do just that … we are anxious to get the budget passed so that we can begin the implementation and begin to take all the steps we need to get the economy out of recession,” he told reporters after a cabinet meeting.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries or to Request a Personal Quote Feel Free to Contact :

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Deputy Global Director, No. 8
Marketing Research & Development Division,
Email : deputy.gd.8@cwiilgroup.eu
Voice : +45.8176.1924
Connect : LinkedIn I Twitter I Facebook I Tumblr

For Queries Specific to Africa :
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For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
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China’s Sinoma to build $1 bln cement plant in Tanzania

China’s state-run Sinoma International Engineering Co. will start work in May to build a $1 billion cement factory in Tanzania, the East African country’s prime minister’s office said.

The cement factory to be built on the Tanzanian coastal town of Tanga will primarily target export markets in neighbouring Democratic Republic of the Congo (DRC), Uganda and Sudan.

“About 70 per cent of the cement output will be exported, with the remaining 30 per cent to be sold in the domestic market,” the prime minister’s office said in a statement late on Tuesday.

“The company will also build a wharf (at the Tanga port) to facilitate export of cement from the plant.”

The statement did not give details of the estimated capacity of the proposed factory.

Prime Minister Kassim Majaliwa held talks on Tuesday with the president of China National Building Materials Group Corp (CNBM), the Asian country’s biggest construction materials producer, to discuss the project.

Cement makers present in Tanzania include Dangote Cement, a unit of Nigeria’s Dangote Cement, Kenya’s ARM Cement and subsidiary plants of Germany’s Heidelberg Cement AG, Afrisam Mauritius Investment Holdings Limited and France’s Lafarge SA.

Tanzania produces around 7 million tonnes of cement a year, with demand seen growing at close to 10 per cent per annum, according to government estimates.

Cement consumption is viewed as a gauge of construction activity, one of the main drivers of economic growth in the country.

Originally reported by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
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IBM to Train 25 Million Africans for Free to Build Workforce

International Business Machines Corp. is ramping up its digital-skills training program to accommodate as many as 25 million Africans in the next five years, looking toward building a future workforce on the continent.

The U.S. tech giant plans to make an initial investment of 945 million rand ($70 million) to roll out the training initiative in South Africa, a country where 31 percent of people between 15 and 24 are unemployed, according to Statistics South Africa. Other countries set to benefit in this program include Nigeria, Kenya, Morocco and Egypt, enabling the expansion of the project across the continent.

“Africa will have the largest workforce by 2040 and IBM wants to lay the foundation blocks to build a digital workforce,’’ Juan Pablo Napoli, head of IBM Skills Academy, said by phone from Dubai. “We will be providing a free cloud-based learning platform able to train people from basic computer skills to high-end app development.”

The move may help bring and keep digital jobs in Africa instead of losing them to India, said Hamilton Ratshefola, IBM’s country manager for South Africa. As many as 50,000 such jobs are currently farmed out from Africa, predominantly to India, Ratshefola said.

“If the program is implemented successfully over the five-year period all these jobs can be moved to Africa, where people will be equipped with the right set of skills,” he said.

The company has partnered with the United Nations in extending the initiative throughout Africa. IBM is also talking to a number of other potential partners, including mobile-phone companies, to further scale the program, Ratshefola said. In South Africa, IBM already is working with phone carrier Vodacom Group Ltd., he said.

Originally reported by Bloomberg.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

Interpol arrests alleged ringleader of £45m scamming network

A Nigerian man accused of being the ringleader of an online fraud network that scammed more than $60m (£45m) from companies around the world has been arrested after months of investigation, Interpol said.

The 40-year-old, known only as Mike, was arrested in June along with a 38-year-old in the Nigerian oil capital of Port Harcourt.

He is accused of scamming hundreds of victims and running a network of at least 40 people working from Nigeria, Malaysia and South Africa.

The man is also said to have money-laundering contacts in China, Europe and the US, who provided bank account details for the illicit cash flow.

“In one case, a target was conned into paying out $15.4m,” Interpol said. “The network compromised email accounts of small to medium businesses around the world including Australia, Canada, India, Malaysia, Romania, South Africa, Thailand and the United States.”

The scams included a supplier’s email being compromised and fake messages sent to a buyer with instructions for payment to a bank account under the network’s control, or the email account of a high-level executive being taken over and a request for a wire transfer sent to an employee responsible for handling such requests.

Noboru Nakatani, the executive director of the Interpol Global Complex for Innovation, said such crime “poses a significant and growing threat, with tens of thousands of companies victimised in recent years”. The public, and especially businesses, he added, needed to be alert to this type of cyber-enabled fraud.

The arrest was carried out with the support of Nigeria’s anti-fraud agency, the Economic and Financial Crimes Commission (EFCC).

“Following his arrest in Port Harcourt in southern Nigeria, a forensic examination of devices seized by the EFCC showed he [the suspect] had been involved in a range of criminal activities, including business email compromise and romance scams,” Interpol said.

The suspects face charges including hacking, conspiracy and obtaining money under false pretences. They are on bail pending further investigation.

Originally reported by The Guardian.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all security matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable security advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Queries Feel Free to Contact :

Mr. Mohammad Mukhtar Mustafa,
Deputy Global Director, No. 4,
Strategic Business & Intelligence Division,
Email : deputy.gd.4@cwiilgroup.eu
Voice : +45.8176.1923
Connect : LinkedIn – Twitter – Facebook – Quora

For Queries Specific to Africa :
Email : africa@cwiilgroup.com , hq@cwiilgroup.eu
Web : www.cwiilgroup.com , www.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
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The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.

With the Creation of an All-Africa Passport, a Push Toward African Unity?

 

The African Union is set to launch a common electronic passport that would grant visa-free travel to all of its 54 member-states, a move that hits at the organization’s long-running goal of more closely linking nations from across the continent.

The passport will first be issued to heads of state and senior officials at the AU’s summit in Kigali, Rwanda, later this month, with the Union saying it aims to provide passports to all African citizens by 2020.

But the AU’s efforts to create a common passport, which observers say is in line with the organization’s mission dating back to its earlier iteration as the Organization of African Unity, comes as the European Union faces growing fissures in the wake of Britain’s landmark vote to leave.

While Britain’s vote came amid campaigns that appealed to economic concerns, a sense of national sovereignty and what some say were racially-tinged anti-immigrant sentiments, for the AU nations, many of them with a relatively recent colonial past, a common passport appeals to an shared ideal of Pan-Africanism.

“The passport is a way to deepen the integration of Africa as one continent,” says Rita Kiki Edozie, who co-authored a book about the AU, which replaced the earlier OAU in 2002.

“I see it as an African Union at least attempting to address the concerns of African people,” Dr. Edozie, a professor of international relations and African affairs at Michigan State University, tells The Christian Science Monitor.

But the AU has also faced concerns about whether its leadership is truly concerned about the citizens of its member states, much like the EU, she says.

In that sense, the passports may represent an offering to a growing cosmopolitan middle class that hopes to take advantage of the mobility and economic benefits offered by visa-free travel.

This flagship project has the specific aim of facilitating free movement of persons, goods and services around the continent in order to foster intra-Africa trade, integration and socio-economic development,” the Union said in a statement on June 13, only weeks before Britain’s vote to leave the EU.

Such smaller-scale efforts are on the rise across the continent, with the AU noting visa-free plans underway in Ghana and Mauritius.

The Economic Community of West African States (ECOWAS) has long offered visa-free travel to citizens of its member states, including Liberia, Mali, Nigeria, and Senegal. The AU has also made passports a key part of its Agenda 2063 plan, which aims to create a common trading market for its member-states by 2063.

But implementing the common passports for all African citizens could be a complex task.

The AU’s proposal is intended to be a common a standard for electronic passports, while individual member states will still have to work out how individual citizens will actually receive the visa-free travel benefits, notes Bronwen Manby, a visiting senior fellow at the London School of Economics who has studied citizenship issues in Africa.

“I think a disproportionate amount of emphasis has been placed on what’s the document, how its going to look, rather than who is West African for example,” she tells the Monitor. “An ECOWAS biometric identity document is not going to solve the issue of who’s Ivorian and who isn’t and that question of statelessness.”

Stateleness is a particular concern. Many millions of Africans currently lack official documentation of nationality, though its hard to estimate how many are stateless. In some countries, Dr. Manby finds, access to citizenship is made difficult by factors such as rules limiting rights to citizenship for the children of foreigners, racial, ethnic and gender discrimination and lack of accommodation for a nomadic lifestyle.

“I think a lot of this focus has been around technical issues and not enough emphasis on migration, on how do your procedures work and how to incorporate people [into a particular country],” she adds.

The African Union and the European Union also face somewhat different issues, though some concerns are linked. One is the possibility of racially-tinged backlash that could result from any plan to roll out passports to citizens of all the AU’s member states, particularly in South Africa, notes Professor Edozie, of Michigan State.

A diplomatic move might also counterbalance that potential opposition. Nkosazana Dlamini-Zuma, the current head of the African Union Commission, is stepping down as she is rumored to be discussing a run for president of South Africa as part of the ruling African National Congress party.

The AU’s own position means it’s less likely to spark the kind of populist backlash that fueled the “Leave” campaign in Britain, says Manby of the London School of Economics.

“The people who interact with the AU are those that are going to be aware of it and thinking about it,” she says. “The proverbial taxi driver doesn’t express frustration with the AU in the way that the proverbial taxi driver would in Britain about the EU.”

The AU’s timeline, however, is still ambitious.

“It’s a little bit of an ideal to achieve, all [the AU is] saying is that they’re providing visas, they’re not saying they’re providing citizenship, to provide visas might be realistic, but citizenship is a different question,” says Edozie.

But Khabele Matlosa, the AU’s director of political affairs, says the move to open borders between member states could have a large-scale impact on young people traveling large distances in search of work.

Africa’s history also means that a move toward a common passport has drawn a different reaction than the debates that have roiled Europe, he told CNN.

Africa is a continent of migrants so we are not as suspicious of refugees,” Mr. Matlosa said. “This is a test of our Pan-Africanism, the doctrine which underpins the African Union’s existence. We are committed to this philosophy.”

Originally published by The Christian Science Monitor.

These materials are not intended and should not be used as legal / investment advice or other recommendation. If you need a legal / investment opinion on a specific issue or factual situation, please contact a lawyer / investment advisor. Anyone using these materials should not rely on them as a substitute for legal / investment advice.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialized units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries or to Request a Personal Quote Feel Free to Contact :

Mr. Francis Thomas Matthews,
Deputy Global Director, No. 8
Marketing Research & Development Division,
Email : deputy.gd.8@cwiilgroup.eu
Voice : +45.8176.1924
Connect : LinkedIn I Twitter I Facebook I Tumblr

For Queries Specific to Africa :
Email: africa@cwiilgroup.comhq@cwiilgroup.eu
Web: www.cwiilgroup.comwww.cwiilgroup.eu

For Any / All Other Queries :
CWIIL Group Global Regional Headquarters Denmark,
Address : No. 1, Klokkebjergevej, DK6900 Skjern, Denmark
Voice : +45.5148.3608
Fax : +45.7014.1498
Email : corpcomm@cwiilgroup.eu
Web : www.cwiilgroup.eu
Connect : LinkedIn – Twitter – Facebook – Quora

Office Hours :
Monday to Friday : 10.00 – 17.00 CET.
Saturday : 10.00 – 14.00 CET.
Sunday : Closed.

The Corporate Communications Team would require minimum a fortnight for Reviewing & Responding to Queries, which please note.