January 13 (SeeNews) - Romanian building materials producer Cemacon [BSE:CEON] said that it has started the procedure for acquiring manufacturer of bricks, tiles and construction products Euro Caramida.
The transaction will be probed by the national anti-trust body in the upcoming period, it said in a press release on Thursday.
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Cemacon also said it plans this year to complete the construction of a bricks and tiles factory in the county of Brasov and to buy production facilities in other Romanian counties.
Cemacon was founded in 1969 in Zalau and focused on the production of ceramic blocks. In 2010, the company started operating a second factory in Recea and listed on the Bucharest Stock Exchange (BVB). In 2018, it opened a lintel factory.
Paval Holding, the owner of Romanian DIY retailer Dedeman owns 78.2% of Cemacon, PIF Industrial owns 16.75%, while the remainder is in free float on the BVB.
Cemacon shares traded 9.98% higher at 0.4890 lei as of 1004 CET on Friday, bourse data showed.