ROCA Industry (BVB: ROC1), a holding company set up by ROCA Investments that brings together Romanian companies producing construction materials, announced that it had sealed an agreement to take over the 100% stake in the wire products manufacturer Dial, from the company’s founder Vasile Rosu.

The price agreed was set at EUR 14 mln. The purchase price is to be paid in part at the completion of the transaction, which is currently subject to the approval of the Competition Council. The rest of the money shall be paid in the first quarter of 2023 at the latest.

Dial specializes in fence edging panels, wicker fence mesh, Rabitz mesh, rectangular poles and other products.

It plans to invest some RON 40 mln (EUR 8 mln) this year. These plans cover the completion of a new production hall in Q2 2022, the increase in production capacity and also the development of new business lines.

In 2021, the company reported a turnover of EUR 12 mln.

Roca Industry was listed on January 27, 2022 on the AeRO segment from BVB. The holding raised RON 45 mln (EUR 9 mln) under a private placement before that.

(Photo: Liliia Yemelianova | Dreamstime.com)

andrei@romania-insider.com