Austrian construction materials producer takes over small Romanian peer

Construction materials producer Baumit, a Romanian subsidiary of the Austrian group Schmid Industrie Holding operating on the local market for over 20 years, took over the Romanian-Italian company ITAL-KOL, a business of just over EUR 1 million, Profit.ro reported.

The target company operates a dry mortar factory in Șag and a limestone deposit in Ocna de Fier, both in western Romania.

The takeover was decided both for increasing the production capacity and for better covering the western part of the country, explained Baumit general manager Robert Schmid.

ITAL-KOL, on the market since 1993, employs 30 and reported RON 5.7 mln (EUR 1.2 mln) revenues and nearly RON 0.4 mln losses in 2018. Baumit Romania has 200 employees and reported RON 247.1 mln (EUR 53.7 mln) revenues and RON 11.5 mln (EUR 2.47 mln) net profit. The Austrian group has three factories in Romania, in Bucharest, Bolintin Deal and Teiuș.

(Photo source: Facebook/Ital-Kol)