First publishedon www.AggBusiness.com
LafargeHolcim CEO Jan Jenisch has welcomed the French-Swiss building materials giant's agreement to acquire Somaco, one of Romania's top precast concrete producers
has signed an agreement with ORESA for the acquisition of Somaco
, one of Romania’s leading precast concrete producers. The transaction will allow the French-Swiss global building materials heavyweight to develop its position on the Romanian building materials market, where the company is already present in the cement, ready-mixed concrete and aggregates segments.
Jan Jenisch, CEO of LafargeHolcim, said: “This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions & Products business segment as part of Strategy 2022 – ‘Building for Growth’. The acquisition enables LafargeHolcim to enter Romania’s fast growing precast concrete market and to become an integrated solutions provider for our local customer”
Somaco has leading positions and operates five precast concrete plants and one plant for aerated blocks in Romania. The company reported net sales of €56 million in 2018 and has 750 employees. It has a strong portfolio of precast solutions for bridges, tunnels, subways and logistics platforms and supplies products for the residential sector. Romania’s precast segment is expected to grow over the coming years thanks to the country’s high construction and infrastructure needs.
The transaction is subject to regulatory approvals and is expected to close in Q4 2019.