The silo is close to the Hungarian border and is the first acquisition of the company outside southern Romania.
Toepfer is one of the lowest-profile companies operating in Romania; its grain trading business on this market amounts to over EUR300 million.
The silo it bought belonged to the insolvent Agrobanat CDC Holding, owned by businessman Florentin Carpanu.
“Alfred C. Toepfer bought the assets auctioned by Agrobanat CDC Holding at the end of June for the minimum amount the bidding started at. The money will go to Alpha Bank, Agrobanat’s main lender,” said Bogdan Herzog, managing partner of Aba Insolvency SPRL, the court-appointed administrator of Agrobanat CDC Holding, which handled the sale of the assets.
The silo in Timis is the first acquisition of the Germans at Toepfer over the past year and a half. They own eight more silos in Romania, with a capacity of 100,000 tons.