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Jul 25, 2023 11:55 EEST
July 25 (SeeNews) - Romanian construction holding company Roca Industry [BSE:ROC1] said on Tuesday that it is in advanced negotiations to buy a stake in local interior door manufacturer Workshop Doors.
The company will carry out the acquisition through its subsidiary Eco Euro Doors, Roca Industry said in a press release, without disclosing the size of the stake it aims to buy.
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"Workshop Doors is a competitive player, with a healthy evolution. In terms of production volumes, it ranked 3rd among all local manufacturers in 2022, delivering over 150,000 quality doors produced in its factories," said Ionut Bindea, CEO of Roca Industry.
The potential transaction will be subject to an internal evaluation process and approvals from the Competition Council or other competent authorities.
Workshop Doors has been active since 2009. Based in Petelea, in the northern county of Mures, it owns two factories and exports a considerable amount of its output. The company ended last year with a turnover of 10.5 million euro ($11.6 million) and employed 184 people at end-2022.
Roca Industry was founded by Roca Investments in 2018 and operates as a holding company of Romanian construction material producers. The holding currently includes seven companies.
Roca Industry's shares closed flat at 9 lei ($2.02/1.82 euro) on the Bucharest bourse on Monday.
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