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BUCHAREST (Romania), July 15 (SeeNews) - Swiss multinational building materials manufacturer LafargeHolcim said on Monday it has signed an agreement with Romania-based Oresa for the acquisition of Romanian precast concrete producer Somaco.
The transaction will allow LafargeHolcim to develop its position on the Romanian building materials market, where the company is already present in the cement, ready-mix concrete and aggregates segments, La FargeHolcim said in a press release.
The deal, whose value was not disclosed, is subject to regulatory approvals and is expected to close in the last quarter of 2019.
"This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions & Products business segment as part of Strategy 2022 – ‘Building for Growth’. The acquisition enables LafargeHolcim to enter Romania’s fast growing precast concrete market and to become an integrated solutions provider for our local customers," LafargeHolcim CEO Jan Jenisch said.
Somaco operates five precast concrete plants and one plant for aerated blocks in Romania. The company reported net sales of 56 million euro ($63 million) in 2018 and has 750 employees. It has a strong portfolio of precast solutions for bridges, tunnels, subways and logistics platforms and supplies products for the residential sector. Romania’s precast segment is expected to grow over the coming years thanks to the country’s high construction and infrastructure needs, LafargeHolcim said.
LafargeHolcim is active in four business segments: cement, aggregates, ready-mix concrete as well as solutions and products. Around 75,000 people work for the company in around 80 countries.
Oresa, a family-owned company registered in Sweden, has been active in Romania since 1997.
Besides Somaco, Oresa's portfolio consists of four companies that are market leaders in their sectors: La Fantana, RTC, Romanian Business Consult and Kiwi Finance. ORESA has previously owned companies such as Fabryo-Atlas, Duraziv, Motoractive, Credisson, Flanco, Brewery Holding (Ciuc) and Medicover.