Swisspor Group, the manufacturer of expanded polystyrene and thermal insulation systems, announced the takeover of the Romanian rival BriothermXPS, controlled by Turkish Kantas Gulsevim. The deal pends approval from the competition body.

Swisspor is one of the leading developers, manufacturers and suppliers of products and services for the energy efficiency and aesthetic cladding of buildings, with 38 international production facilities.

Swisspor Romania reported a EUR 14 million turnover in 2022, less than half the EUR 37 million revenues (and EUR 10 million net profit) boasted by BriothermXPS.

"We completed this process quickly and efficiently, despite a difficult market environment and a complex transaction structure," said Artem Bogdanov, business development director at Swisspor Group, Economedia.ro reported.

Briotherm XPS is a Romanian company specialising in the production of thermal insulation materials, which are exported to countries in Central and Eastern Europe.

iulian@romania-insider.com

(Photo source: Opolja/Dreamstime.com)