The operation is subject to the vote of the General Meeting of Shareholders due to take place in April 18/19, 2022 and the proposed capital increase is intended to fund the fast-paced growth strategy and M&A activities of the group.
“We will do this by increasing the products’ added value through proprietary R&D activities and by accessing new markets,” Promateris CEO Tudor Georgescu says.
“We have identified a number of growth opportunities in the region and we aim to have an agile approach to future opportunities in terms of acquiring new production facilities in the region through M&A. We are in a position to generate value for shareholders by delivering consistent profits and bringing real change to the packaging industry.”
Promateris seeks to acquire new companies whose business can be integrated into the group to diversify the product portfolio. That will generate high added value and support the creation of group synergies.
Promateris posted consolidated revenue of RON187.5 million last year, an increase of 62% on 2020, as well as RON18.7 million net profit, 405% higher than in the previous year.
(English version by Loredana Fratila-Cristescu)