Displaying items by tag: Oresa

Romania: The national competition authority stated yesterday that it will investigate LafargeHolcim’s deal with Oresa for the latter’s takeover of the precast concrete producer Somaco. LafargeHolcim assumed the asset in July 2019 at an undisclosed price.

Romania: LafargeHolcim has signed an agreement with Oresa to buy Somaco, precast concrete producers. The transaction will allow LafargeHolcim to develop its position on the Romanian building materials market, where the company is already present in the cement, ready-mix concrete and aggregates segments. No value for the transaction has been disclosed. It is subject to regulatory approvals and is expected to close in late 2019.

“This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions & Products business segment as part of Strategy 2022 – ‘Building for Growth.’ The acquisition enables LafargeHolcim to enter Romania’s fast growing precast concrete market and to become an integrated solutions provider for our local customers,” said Jan Jenisch, chief executive officer (CEO) of LafargeHolcim.

Somaco operates five precast concrete plants and one plant for aerated blocks in Romania. The company reported net sales of Euro56m in 2018 and has 750 employees. It has a portfolio of precast products for bridges, tunnels, subways and logistics platforms and supplies products for the residential sector.