Swedish group Monsson sold its stake in the Romanian company Emon Electric to the African group EnComm. The company argued that it plans to focus on markets with faster development perspectives that also have a more stable legislation.

“Emon Electric was an interesting project, but the market in Romania is somehow in stagnation,” said Sebastian Enache, Monsson development director.

In recent years, Monsson has developed operations in South Africa, New Zealand, and Europe.

Emon Electric was founded in 1998. It built the first GSM mobile phone equipment in Romania. It has also been active on the energy infrastructure market. Monsson bought it in 2014.

Emon Electric had a turnover of EUR 2.05 million and 84 employees in 2015.

editor@romania-insider.com

(photo source: Emon.ro)