LafargeHolcim has signed an agreement with ORESA for the acquisition of Somaco, one of Romania’s leading precast concrete producers. The transaction will allow LafargeHolcim to develop its position on the Romanian building materials market, where the company is already present in the cement, ready-mixed concrete, and aggregates segments.
Somaco has leading positions and operates five precast concrete plants and one plant for aerated blocks in Romania. The company reported net sales of €56 million in 2018 and has 750 employees. It has a strong portfolio of precast concrete solutions for bridges, tunnels, subways, and logistics platforms, and supplies products for the residential sector. Romania’s precast segment is expected to grow over the coming years thanks to the country’s high construction and infrastructure needs.
“This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions and Products business segment as part of ‘Strategy 2022 – Building for Growth’,” said Jan Jenisch, CEO of LafargeHolcim. “The acquisition enables LafargeHolcim to enter Romania’s fastest growing precast concrete market and to become an integrated solutions provider for our local customers.”
The transaction is subject to regulatory approvals and is expected to close in 4Q19.
Read the article online at: https://www.worldcement.com/europe-cis/15072019/lafargeholcim-to-acquire-one-of-the-leading-romanian-precast-producers/