Cemacon (BVB: CEON) announced that it completed the acquisition of its peer Euro Caramida after it received the permit from the Competition Council, strengthening its position in the western part of the country and opening new opportunities for export.

The takeover was operated as part of a EUR 30 million project, including the price paid for the factory and the value of the modernization projects for the next two years – the refurbishment of the production lines and the upgrade of the product portfolio.

"The integration of Euro Caramida involves an extensive process of technological modernization, calibration of processes and procedures, ensuring conditions for compliance with environmental and occupational safety standards. In the next two years, we will invest important know-how and financial resources so that the factory and the entire team there work in synergy with Cemacon's vision and culture," said Daniel Şologon, Cemacon CEO, quoted by Bursa.ro.

iulian@romania-insider.com

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