German group acquired tile factory in Romania

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German group Braas Monier, owner of based in the Romanian city of Sibiu manufacturer of tiles Bramak Sibiu, has completed the acquisition of the plant for roof tiles Elpreco in Craiova, learned BalkanEngineer.com from the information site Romania-Insider.

The deal is expected to provide to Braas Monier additional revenue of almost 5 million EUR annualy. The group completed the acquisition for almost 7 million EUR, the statement says also.

The Craiova plant will generate revenues of about 4.9 mln. EUR in 2019 and an operating profit of 1.6 mln. EUR by Braas Monier's evaluation. The Bramak factory, which the group owns in Sibiu, has a turnover of 11.5 mln. EUR and a net profit of 1.47 mln. EUR for 2015, according to the Ministry of Finance.

Elpreco Craiova is one of the largest manufacturers of building materials in Romania. The company manufactures autoclaved concrete, sidewalks and concrete structural elements.

Source of the pictures: Braas Monier