“Iranga operates on the technical and construction textiles market, offering solutions based on a complex range of technologies for the production of fiber glass fabrics and composite materials through fabric lamination, an activity similar to one of the business lines owned by Bico,” the Roca report reads.
The value of the transaction is EUR3.2 million. It is composed of EUR1.6 million for the acquisition of all the shares, paid on completion of the transaction (on May 3, 2023), and EUR1.6 million allocated for the acquisition of a production line, for which the commissioning process has already been completed, Roca said.
“The acquisition of Iranga is in line with Roca Industry and Bico strategy and development plans. The new company will support the diversification of the markets in which the holding companies are present, all of which contribute to the creation of added value around them, through synergies and common tools.”
(English version by Loredana Fratila-Cristescu)