“The company forecasts a 33% higher turnover on traditional products segment and a 90% surge on the insulating products of Euro MGA, fueled by the implementation of Selena business model in the new acquisition,” Dorin Spataru, Selena Romania’s administrator, told a news conference Wednesday.
In 2011, Selena Romania posted a 36 million lei (EUR8.5 million) turnover, according to data from the Finance Ministry.
Spataru pointed out the takeover transaction of Euro MGA was complex and ended early this year, without giving any further details.
“We expect Euro MGA to have a 42% share in the total turnover,” Spataru added.
Euro MGA Product, established by businessman Romeo-Jean Cosac, was controlled by several natural persons prior to the takeover.
Selena Romania is trading eight groups of products, focusing on polyurethane foams.
Poland’s Selena group includes 30 companies in 18 countries and is listed on Warsaw’s Stock Exchange.