May 22 (SeeNews) - Croatian Adriatic port operator Luka Ploce [ZSE:LKPC] said on Wednesday it has agreed to buy local cement producer New Concrete Technologies in a deal valued at 3.0 million euro ($3.3 million).
New Concrete Technologies holds long-term sub-concessions for cement facilities and owns a dredging vessel, Luka Ploce said, adding that this acquisition enables it to unify its cement infrastructure.
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Luka Ploce's takeover of New Concrete Technologies shows a strategic focus on further growth by diversifying into new markets, such as cement and technical maintenance of waterways, it added.
According to data from the Croatian court registry, Zagreb-based New Concrete Technologies was founded in 2018 by Ante Grubisic.
Luka Ploce’s shares last traded on Tuesday on the Zagreb bourse, ending 3.70% lower at 130 euro.
($ = 0.922 euro)