Local roof tile manufacturer Bilka, owned by the Romanian investor Horatiu Tepes, has acquired the Hidromecanica Brasov industrial platform with EUR 5.5 million.
The company has also initiated a EUR 20 million investment program that spans between 2017 and 2020, aimed at increasing its production for the industrial sector. Bilka, whose production is 90% destined to the residential sector, wants to start producing sandwich panels for industrial use in 2019.
Hidromecanica, which was producing engines and turbines, went bankrupt after 135 years of activity and its assets were put up for sale. Bilka paid EUR 4 million below the initial asking price for the platform. The metallic tile producer will now start renovating the Brasov industrial platform and acquiring the necessary production equipment.
In 2014, Bilka bought the Romlag platform, part of the Rulmentul Brasov plant, with an investment of EUR 10 million. Bilka estimates a turnover of RON 400 million (EUR 87 million) for this year, up by 54% compared to 2016.
(romania-insider.com)
