The two agreements were signed with two of Europlas’ shareholders for the acquisition of 50% and 5%, respectively, of the company’s share capital. The deal stands at EUR325,000.
“The acquisition of the 50% stake was completed at the time of signing the contract, and the completion of the acquisition of the 5% stake in the share capital will take place within six months from the signing of the contract, subject to the fulfilment of the suspensive conditions mentioned in the related sale and purchase agreement,” the document states.
Europlas specializes in the production of reinforcing mesh, currently producing 7 million square meters of reinforcing mesh per year, and will add 10% to the production of fiberglass mesh for BICO and Terra’s ETICS systems.
By the end of 2023, capacity is expected to increase to 16.5 million square meters per year. Revenue in 2021 stood at EUR2 million, with BICO management aiming to increase this to EUR4.5 million for 2023 by doubling production capacity.
(English version by Loredana Fratila-Cristescu)