Romanian distribution group Sipex builds its own production facility under EUR 20 mln project

The construction materials distribution company Sipex (BVB: SPX), traded at the Bucharest Stock Exchange, announced it will begin next year the construction of a dry mortars and thermal insulation materials factory in Ariceștii Rahtivani, Prahova County. The project will involve EUR 20 million of investment.

The company said it has “all approvals for the submission of the PUZ (Zonal Urban Planning) documentation” and estimates that the completion date of the production unit is 2027, depending on the financing sources that will be attracted.

The company has a market capitalisation of RON 98 million (EUR 18 million), and the price of its shares dropped by 17% y/y. Its main shareholder (92%) and CEO is local entrepreneur Irinel Gheorghe.

The company announced its turnover inched up by only 2% y/y to RON 256 million (EUR 50 million) in January-September. The growth was mainly driven by a nearly 5% rise in sales from the Retail channel.

The company’s net profit reached RON 2.8 million, almost double compared to the same period last year (+94.5%).

"2025 is a year that tests companies’ adaptability and long-term vision. In an economic context marked by cost pressures and decreased demand in the B2B, SIPEX strengthened its position through careful sales planning, rigorous inventory control, and consistent financial discipline,” commented Irinel Gheorghe, CEO of Sipex.

Sipex operates with an integrated business model, organized into three business lines: sales and distribution of construction and finishing materials, services (technical consultancy), and sales of finished colored products.

(Photo source: the company)