Romanian Bilka Steel acquires Romlag Brasov assets, plans EUR 5 mln investments

Romanian metallic roof tiles manufacturer Bilka Steel has acquired the real estate assets of Romlag Brasov and plans total investment of some EUR 5 million by 2016. “Bilka Steel has completed the procedures and signed the documents for the acquisition of Romlag Brasov real estate assets, which cover a surface of some 27,000 sqm,” reads a statement of the company. The buildings acquired by the company are situated on the Rulmentul Brasov platform, in the vicinity of the production halls already owned by the company. “By adding the new surface to the 17,500 sqm Bilka Steel already owns, we reach a total surface of around 45,000 sqm meant for depositing, production lines and office spaces,” according to the company. Increasing the surface on which the company operates is part of the development strategy for the coming years. Bilka Steel started an investment plan to be completed in 2016, which amounts to about EUR 5 million. The budgeted amount will be distributed for developing products in the industrial and residential sectors. Bika Steel plans to increase its production capacity this year, while buying a local producer also remains a target for the company. The company recorded a turnover of RON 104 million (EUR 23.5 million) in 2013, up 41 percent year-on-year, and sold a total of 3.2 million sqm of metallic tiles. Irina Popescu, irina.popescu@romania-insider.com