Local producer invests EUR 20 mln in new construction materials plant in Romania

Romanian construction materials producer Soceram, indirectly controlled by local businessman Mihai Anastasescu, is investing around EUR 20 million in a autoclaved cellular concrete (BCA) plant in Cordun, Neamt county, Profit.ro informed. The company has considered such an investment over the past ten years. The construction of the plant’s premises already started last year. It is designed for a production capacity of over 350,000 cubic meters of BCA per year. "The plant is set to start production in 2020. The investment remained around the initial figure of around EUR 20 million. We chose this location because there is no other manufacturer in the area. In the first stage, we will only produce BCA here. The investment is supported by Soceram and there are also credits involved. The new plant is needed because sales are rising," Constantin Spanu, investment manager at Soceram explained. In 2017, Soceram's turnover reached nearly EUR 26 million and the company made about EUR 2.6 million net profit after five consecutive years of losses. The market for masonry materials, valued at more than EUR 280 million, generated last year the most important transactions in the construction materials manufacturing sector. A number of brick producers and BCA have changed their shareholders amid a growing market. Soceram has two production lines for BCA and brick in Doiceşti, in Dambovita county. The producer also owns a land plot in Carbunesti, near Targu-Jiu, for a new production unit. editor@romania-insider.com (photo source: Facebook/Soceram)