Romanian company Elmas Brasov, which is active on the material handling market, recently completed the acquisition of Steel & Alu Building’s assets in a EUR 3.75 million transaction.

From the total amount, EUR 3.4 million came from a bank loan contracted to finance the program to expand the production capacity.

The investments in modern equipment and in arranging the new production facilities amount to some EUR 1.5 million.

By taking over the assets of Steel & Alu Building SRL, Elmas will also increase the number of employees, adding around 70 jobs.

Elmas Brasov was founded in 1990 and its main shareholder is businessman Marton Geza. In 2012, the company posted a turnover of RON 89.1 million (some EUR 20 million), up 17 percent year-on-year.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: elmas.ro)