“With the completion of this transaction, CEMACON consolidates its business on the Romanian ceramic block market and opens the export prospect for the company’s products. The transaction approved by the Competition Council (Current Report no. 4738 dated 04.05.2023) implies the assumption by CEMACON of a total cost of 30 million euros represented by the value of the transaction and the estimated investments for the next two years,” the company said in a stock market report.
The transaction is financed both from own sources and by accessing some investment credits to ensure the necessary flow for the modernization and integration of the EURO CARAMIDA company into the CEMACON ecosystem, which currently includes two brick factories, a lintel factory and a factory of special elements and decorative facade elements.
“Following the completion of the acquisition, CEMACON aims to accelerate its growth plans both at the national and international level. The integration of the EURO CARAMIDA factory into the CEMACON ecosystem will involve a transition period, after which the work and production standards from CEMACON will be implemented within the EURO CARAMIDA factory. CEMACON company will continue to take steps for operational registration at the Bihor Trade Registry Office,” the report also reads.
Cemacon has a market value of RON437.7 million and is controlled by Paval brothers, the owners of DIY retailer Dedeman, through the investment vehicles Paval Holding (an ownership stake of 78.2%) and PIF Industrial (a stake of 16.8%). CEO shares have been trading up 5.4% since the beginning of 2023, amid deals worth RON13.3 million, as per stock market data.