According to Arcon, the acquisition is expected to be completed in December.
Ioan Titeiu, owner and general manager of the company, estimates the company’s turnover will climb to over EUR31 million this year, supported by both polystyrene and bituminous membrane sales, which rose 10% and 17%, respectively, in the first ten months.
Despite rising sales, Arcon will register a lower profit margin due to the instability of the Romanian leu and to higher energy and raw material prices, said the company.
Amvic and Corina Gealan both belong to businessman Marin Crutescu. The two companies have generated cumulated sales of about EUR3 million since the beginning of the year.
Arcon was set up in 1994 and employs about 200 people. Its sales amounted to RON114.6 million lei (EUR27 million) last year. (EUR1=RON4.5339)