Romanian real estate group Iulius buys precast concrete manufacturer
Iulius Group, the largest Romanian owner of modern shopping centres, purchased 95% of the precast concrete manufacturer Build Corp Prefabricate factory, Profit.ro reported.
The acquisition took place through a capital increase that diluted the share of the target company’s founder George Ivănescu to 5%.
Iulius Group, owned by local businessman Iulian Dascalu, plans to invest EUR 20 mln in Build Corp Prefabricate to increase the range of products and open new production facilities.
With a production capacity of 30,000 cubic meters of concrete per year, Build Corp Prefabricate operates seven production lines for prefabricated elements of reinforced and prestressed concrete, two concrete plants, a rebar workshop with automated forming machines, its own line for made patterns and the largest warehouse of finished elements in Romania.
This is the second investment of the Iulius group in the industrial segment, after the purchase two years ago of the majority stake in the abrasive materials manufacturer Carbochim Cluj-Napoca.