Company Overview

LEGAL STATUS

The company was founded in 1955 by Mr. F. Micheletti and was initially registered under the name F. Micheletti. In 1963 the company was incorporated as a limited liability company under the Companies Code 1963 (act 179). As a result of improved performance over the years the company obtained government certification under Financial Class "D1" and "K2" Ministry of Works and Housing Cert. registration # D 00425A.

THE COMPANIES DEVELOPMENT PRE 2004

Mr Micheletti’s vision of developing a successful construction company in Africa for Africans was realized through understanding the changing needs of Ghana and the Ghanaian people. During the last fifty years the company has adapted itself and boasts the successful completion of numerous projects for many different Clients. In this period, it has thus established itself as a company with the capacity and competence to undertake civil construction and general contractor roles. This reputation has allowed the company to acquire a solid experience base both in terms of the variety of projects undertaken and the competence of our human resource.

The track record of the projects undertaken by the company speaks for itself and we believe much of this success can be attributed to a successful holistic approach, which incorporates consistent professionalism from project inception through evaluation of proposals to strict quality assurance procedures during construction, testing and commissioning and final hand over.

After the founder Mr F. Micheletti retired, the company was directed by the equally effective and competent Mr Noce who further enhanced the reputation of Micheletti & Co. Ltd with high profile projects. Labadi Beach Hotel, SSNIT Hospital and SSB Bank Limited are just some of the projects undertaken during Mr Noce’s directorship and all three of these projects are still visible milestones in Accra.

THE COMPANIES DEVELOPMENT POST 2004

The year 2004 saw the company enter into a new era. Ghana’s continued economic growth and the strength of the local market created new opportunities for construction companies in Ghana. In the case of Micheletti & Co. Ltd, the company’s solid construction reputation resulted in a buy-out by new shareholders thereby providing Micheletti & Co. Ltd with the management, technical and financial capacity to compete in one of the most vibrant markets in West Africa.

As result of the new ownership, the company now forms part of a broader group of companies, in which the new ownership has business interests. This link provided by the new ownership offers significant benefits to both the Company and potential Clients though Strategic alliances.

Micheletti and Company Limited forms part of a larger group of strategic partners with a common aim of delivering holistic approaches to project implementation through coordinated teamwork. We strive to ensure that the overall result is greater than the sum of the individual contributions of the team thus adding value to our Clients. Our strategic alliances both local and abroad provide us with the resource to achieve this.

Our success is based on our motivated team of experts where Knowledge, Competence and Trust Keep our “TEAM” strong and target oriented.

2.1 Our Vision

‘We believe that continued success can only be achieved by total customer satisfaction’. Our vision is to deliver this by firstly understanding our clients needs and then meeting and exceeding clients expectations by delivering projects to the expected quality on time and to budget.

2.2 Our Mission

Reliability, credibility and trust are the fundamental principles upon which the company was formed and our aim, through the application of these principles, is to create a project culture of teamwork to ensure consistent performance in project delivery through to final handing over and occupation.

In the short time that the company has been operational under new ownership, we have completed or are presently working on several projects for prestigious Clients such as The Ministry of Education Science and Sport, Dynasty Restaurant, Soccer School Lavantal (Austria) and Virgin Nigeria Airlines. Details of the projects are included in the table below:

Project Name	Year	Client	Value
Rehabilitation of the Ohene Djan Sports Stadium and El Wak Sports Stadium	2006	Ministry of Education Science and Sport	€39,925,597
Soccer School	2006	Soccer School Lavantal (Austria)	€588,000,000
Expansion of Dynasty Restaurant, Osu	2006	Dynasty Restaurant	¢1,642,000,000
Fit-out of Virgin Nigeria New Offices	2006	Virgin Nigeria Airlines	¢510,000,000

Project History Before 2004

Under the previous ownership Micheletti and Company Limited developed a reputation for reliability as can be seen from recognizable names in the project resume included in the table below.

Project Name	Year	Client	Value
Graphic Head Office Phase (II)	2004	Graphic Communication Group	¢1,848,000,000
British High Commission	2003	British High Commission	¢2,400,000,000
SSB Bank Limited Training Centre	2002	SSB Bank Limited	¢1,200,000,000
Ghana Commercial Bank Aflao	2001	Ghana Commercial Bank	¢2,834,000,000
Engen	2000	Engen Petroleum Limited	¢2,114,000,000
The British Council	2000	British Council	¢280,000,000
TOR Steam Regeneration Plant	1998	Ram Technical Services Limited	¢776,000,000
Cocoa Palms Villas	1998	I.G.I.C	¢1,600,000,000
Labadi Beach Hotel (II)	1994	Hotel Investment	¢148,000,000
Assembly Hall and Chapel Complex	1993	Aggrey Memorial Zion Secondary School	¢1,055,000,000
Gold House	1993	A.G.C.	¢484,000,000
SSNIT Hospital	1992	SSNIT	¢895,000,000
Labadi Beach Hotel (I)	1991	Hotel Investment	¢814,000,000
Transmission System Office Complex	1991	V.R.A	¢350,000,000
Total	1991	Total	¢350,000,000
Graphic Head Office Phase (I)	1991	Graphic Communication Group	¢350,000,000
Aluminium Rolling Mill	1985	Aluworks	¢225,000,000

Company Stakeholders

Micheletti and Company Limited is currently under private ownership and has two majority shareholders, Dorino Marca and Ernesto Tarricone. Both shareholders are entrepreneurial with extensive experience in the fields of construction, development and real estate

5.1 Shareholders

Dorino Marca was born in Italy in 1948. He is a private entrepreneur and is engaged in Commercial and Residential property development. Through his various companies, he has executed many prestigious projects such as shopping malls and Historical City Centre refurbishment. Between 1975 and 1990, he was President of Discount SpA Group and CONTI SpA with 1100 employees and more than 180MEuro turnover. Some of his notable clients are Carrefour, Spizzico and Lidl.

Stakeholder, Ownership

ALTIPIANO Srl – Italy Estate development and General Contractor

BRAZILE Srl – Italy Estate development and General Contractor

FASSANO FUTURA Srl – Italy Estate development and General Contractor

IMEIT SpA – Italy Estate development and General Contractor

Ernesto Taricone was born in Italy in 1948, and settled in Ghana in the early sixties. The majority of his business is focused on Ghana covering various key sections in the Ghanaian Economy; Agriculture, Mining, Forestry, Construction and Real Estate development. Mr Taricone is a civil engineer and has wealth of experience in civil and building construction particularly within the West African context.

5.2 Company Resources

Micheletti & Co. Ltd currently employs 245 staff of which 237 are Ghanaian and 8 are non-Ghanaian. The employee can generally be categorized as follows:

	Management	Supervision	Adminstrative	Labour	Total
Ghanaian	3	6	13	215	237
Non-Ghanaian	3	5	0	0	8
	6	11	13	215	245
Administrative	3	0	6	0	8
Technical	1	3	2	0	7
Site	2	8	5	215	230
	6	11	13	215	245