Cemacon Real Estate approved the sale to Dedeman of two plots of land, a 22,600 square meter one and a 3,104 square meter one, according to the report. The plots are located in Zalau, Salaj County. The smaller plot will allow a right of way for the land Cemacon kept.
Cemacon is one of the largest brick makers in Romania and accounts for 16% of the market. The company posted 106.4 million lei (EUR24 million) revenue in 2015, an increase of 67% on the previous year and net profit of RON9 million, after a RON1.5 million loss in 2014.
The sale will be done upon fulfillment of the terms agreed by the parties and after securing the approval of the mortgagee, Banca Comerciala Romana, at a price of EUR62.5 per square meter plus VAT or almost EUR1.6 million for both plots.
Dedeman will get the land free of any buildings, which Cemacon will tear down first.
Zalau is the third city in Transylvania where Dedeman announced plans to build a store as early as last year. The retailer opened a store in Satu Mare in late July and will open another one in Oradea in the next few weeks. (EUR1=RON4.4578)
(English version by Loredana Fratila-Cristescu)