Knauf Insulation, one of the largest players in the insulation materials market, part of the German group Knauf, took over the Romanian glass mineral wool factory Gecsat in Târnăveni, Mureș County, as the competition body cleared the deal.

With this deal, Knauf Insulation begins local production. The price was not revealed.

Gecsat reported RON 33.3 mln (EUR 6.6 mln) revenues in 2020.

"The acquisition of the Romanian plant will support Knauf Insulation's growth goals and provide additional capacity to meet the growing demand for our insulation solutions in the region," said Dominique Bossan, CEO of Knauf Insulation Europe / Middle East / Asia, Member of the Management Committee of the Knauf Group, Profit.ro reported.

Active since 2008 in Romania, Knauf Insulation is one of the most important players in the insulation materials market, with a portfolio that includes glass mineral wool, basalt mineral wool and wood fiberboards (Heraklith).

Gecsat is a local producer of glass mineral wool in Romania, with fully private capital, 100% Romanian. Founded in 1918 in Târnăveni, with a history of over 100 years, the factory has, over time, specialized in the production of various glass products. Given the importance of thermal insulation and energy efficiency of buildings, Gecsat invested in a production line of glass mineral wool in 2007.

andrei@romania-insider.com

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