The bundle of assets was sold for EUR8.22 million and comprises a 110 Kv electric power station; solid fuel household; chemical water treatment unit; natural gas connection; buildings and lands.
“The acquisition of assets is part of Chimcomplex’s policy to consolidate and secure the company’s foothold in the energy sector. The assets will be integrated into the investment strategies of Chimcomplex and will be used to develop a cogeneration power plant of high capacity and high efficiency”, per the stock market report.
Valcea County Council President, Constantin Radulescu, said in a statement that Chimcomplex plans to use the assets to build a high efficiency cogeneration power plant. CET Govora will continue to supply heat until the finalization of the project.
Chimcomplex has a RON5.4 billion stock market capitalization and is indirectly controlled by Stefan Vuza (85.35%) though CRC Alchemy Holding, while the Romanian state holds 9.96% of the company’s share capital.
Since the start of 2021, CHOB shares have been trading up 810%, amid deals worth RON19.7 million, stock market data show.
Chimcomplex ended the first nine months of 2021 with total revenue of RON1.8 billion, compared with RON816 million in the same period in 2020, and a net profit of RON422 million, compared with RON39 million loss at the end of September 2020, the report also shows.