BUCHAREST (Romania), April 26 (SeeNews) – Austrian building materials manufacturer Wienerberger said on Tuesday it bought Romanian bricks factory Search Chemicals in Buzau county for an undisclosed sum.
The transaction also includes a clay pit, the company said in a press release.
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Wienerberger plans to upgrade the production facility in the coming months to bring it in line with international standards, it said adding that it intends to keep the factory's entire staff.
Wienerberger entered the Romanian market in 1998. It has invested some 75 million euro (84.3 million) in three brick factories in the country - in Dambovita, Cluj and Sibiu.
Globally, Wienerberger is one of the world’s largest bricks maker with 230 plants in 30 countries.
Search Chemicals bought the idled brick factory in Satuc, in Buzau county, from local Kronberger group in 2014 for 2.9 billion euro, financing the deal with a Garanti Bank loan. The factory was established in 1970.
($= 0.8891 euro)