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Dec 20, 2017 12:42 EEST
December 20 (SeeNews) - Xella International said on Wednesday it has signed an agreement with two private equity funds in Poland managed by Enterprise Investors to acquire Romanian building materials maker Macon Group for an undisclosed sum.
The transaction is subject to approval by Romania's anti-trust body, Xella said in a press release.
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The conclusion of the transaction is expected in the first half of 2018.
The parties agreed not to provide further details of the transaction at the moment, pending completion of the proceedings.
Xella International is a corporate group with headquarters in Duisburg, in Germany, which manufactures and markets building materials, gypsum fibreboard and cement-bonded dry lining panels together with lime and limestone.
Xella Romania, the local subsidiary of Xella International, posted a turnover of 14.2 million euro ($16.8 million) in 2016, up 18.3% on the year. It has 127 employees. Xella Romania inaugurated in 2010, in Ploiesti, in the south of the country, a production unit of autoclaved aerated concrete (AAC) masonry blocks, following a greenfield investment of 32 million euro.
The Macon Group is the largest producer of AAC in Romania and one of the largest manufacturers of building materials in the country. The Macon Group has four business divisions: AAC, precast concrete, lime and terracotta. It operates production facilities at Deva, Oradea, Targu Jiu and Vadu Crisului. With approximately 800 employees, the company generated a turnover of approximately 32 million euro in 2016.
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