Serbian construction company Tron Tex launches formal buyout bid to fully acquire industrial adhesives manufacturer Elan

Serbian construction company Tron Tex has officially announced its intention to make a tender offer to acquire the remaining shares of local adhesive and chemical products manufacturer Elan, BalkanEngineer.com learned from the regional business media outlet SeeNews.com. The news was announced via an official filing with the Central Securities Register in Serbia, marking the start of a procedure for the full consolidation of ownership in the industrial enterprise.

At the time of the announcement, Novi Sad-based Tron Tex already held a majority stake of 85.6% of Elan’s capital, equivalent to 21,002 common shares. The tender offer will be aimed at acquiring the remaining 14.4% of the securities still held by minority shareholders. Under Serbian law, Tron Tex is required to submit an official request for approval of the tender offer to the Securities Commission within the statutory deadline, after which the specific financial terms and the price per share will be published.

Elan, a manufacturer headquartered in Kosjeric, has a long-standing tradition in Serbia’s chemical industry and specializes in the production of a wide range of industrial adhesives, coatings, and auxiliary materials for the construction and furniture industries. The acquisition and full integration of Elan into Tron Tex’s structure will enable the construction company to close its production cycle, optimize supply costs, and expand its market presence in Southeast.

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