“Electromontaj, leader of Romania’s energy constructions market, with projects worldwide, is launching its intention of economic and corporate partnership with Hidroconstructia, the largest Romanian company specializing in hydropower and hydrotechnical constructions, now under insolvency. The offering addressed to Hidroconstructia SA shareholding structure has a maximum value of RON119 million, a value achievable depending on reorganization plan approval and exit from insolvency. At the same time, the offering is conditioned on obtaining the necessary statutory approvals and the Competition Council ok,” say Electromontaj representatives.
Electromontaj investment in Hidroconstructia will also entail group synergies, best practices and expertise transfer, as well as financial aid to improve the cashflow of Hidroconstructia and its subsidiaries.
Electromontaj is part of H4L Group with activities in various fields, among which real estate developments, leasing, logging, electricity generation and sale and natural gas.
Hidroconstrucția’s core business targets aboveground and underground hydropower and hydrotechnical construction works, as well as civil and industrial works, roads and bridges, municipal works, land improvement works, machine repair works, quarry and gravel pit mining, metallic structures and precast reinforced concrete.
Electromontaj group in 2021 posted a net asset value of RON471 million, RON472 million turnover and net profit worth RON25.5 million.
(English version by Catalina Apostoiu)