The takeover was made following a share capital increase operation by co-opting a new partner of the production unit.
“The investment decision is part of Iulius Group’s strategy to diversify the portfolio on the production segment. The share capital increase will allow the expansion of the production capacity onto the new segments of pre-cast products of Build Corp Prefabricate, as well as the development of new units, envisaging an investment plan of over EUR20 million”, according to Iulius representatives.
Build Corp Prefabricate, so far held by George Ivanescu, is adjacent to Build Corp held by the same entrepreneur who built most projects developed by Iulius Group, such as the Palas Iasi mixed-use retail and office complex, three of the four shopping malls under the Iulius brand- from Suceava, Timisoara and Cluj-Napoca, the expansion of Iulius Mall Iasi, and also Iulius Town, a mixed-use complex with office and retail spaces developed by the companies of Iulius Group and Atterbury Europe in Timisoara, an investment worth EUR220 million.
Build Corp Prefabricate ended 2021 with a turnover of RON65.3 million, up 14% on the year, in line with finance ministry data. The company has 172 employees.
This is Iulius Group’s second investment in the industrial segment after acquiring two years ago the majority ownership stake in industrial abrasives manufacturer Carbochim Cluj-Napoca. Now, the plant is in the process of relocation and retrofitting which entails an investment of over EUR5 million, for the purpose of optimizing the business activity.