Romanian pavers producer Symmetrica to invest EUR 10 mln in newly acquired Somaco Holding factory
Romanian pavers maker Symmetrica announced on October 25 that it acquired the Somaco Holding factory in Doaga – Mărășești, Vrancea county. The company plans to invest EUR 10 million in the plant's modernization and development by the end of 2023.
The factory is located close to a Symmetrica production facility. With this step, the company will expand with several production lines on a total area of around 300,000 square meters.
"At the beginning of the year, we mentioned that our expansion strategy includes the southeast of the country, one of the areas with high potential that reports significant increases from year to year in terms of volumes of precast concrete sold. The acquisition of the Somaco Holding factory in Doaga comes as a natural step in shaping this strategy and marks an important stage for Symmetrica's plans to strengthen its position," said Sebastian Bobu, Executive Director of Symmetrica.
According to him, over the next year, investments worth more than EUR 10 million will be directed to the modernization and development of the purchased unit and the transformation of the location in Doaga into a technological hub expanded on several production lines. The hub in Doaga will become the company's largest factory, Symmetrica said.
Through this acquisition, the company also expands its area of activity, adding the production of poles for overhead power lines to its portfolio.
The factory is located on a plot of 250,000 sqm and has 3 production halls and annexes with an area of 15,000 sqm.
With its takeover, Symmetrica will retain 30 of Somaco's employees. They will join the 60-person team already in the neighbouring Symmetrica factory.
The first Symmetrica factory was inaugurated in 1999 in Vereşti, Suceava county, followed by production units in Podu Iloaiei, Iaşi county (2010), and Bolintin Vale, near Bucharest (2011), Prejmer – Braşov (2012), Cociu – Bistriţa-Năsăud (2012), Mărășești/Doaga – Vrancea (2018), and Zimandu Nou – Arad (2021).
irina.marica@romania-insider.com
(Photo source: Symmetrica)
