Petrotahlil :Specialtiy chemicals company Sika Group is to strengthen its market and manufacturing position in south east Europe with the planned takeover of Romanian insulation materials maker AdePlast SA.
Baar, Switzerland-based Sika has agreed to acquire the leading local construction materials producer which operates four plants nationally, supplying mortars and expanded polystyrene (EPS) thermal insulation.
This proposed deal, for an undisclosed sum, is still subject to formal clearance by the anti-trust authorities.
Family-run AdePlast, headquartered in Ploiești, 70kms north of the Romanian capital Bucharest, employs a 460-strong workforce and generates annual sales worth around €109m, according to Sika.
AdePlast’s plants are located strategically across Romania. The company says it has invested more than €50m over 10 years to develop operations at Oradea in the west, Roman in eastern Romania and at Craiova and Ploiești in the south.
“AdePlast is a proven industry leader and will considerably strengthen the presence of our Target Market Building Finishing in the growing Romanian market.
“The improved access to the distribution channel will offer exciting cross-selling opportunities, increase our market penetration and drive continued growth of both companies,” commented Sika’s EMEA region manager Ivo Schädler.
The addition of AdePlast’s manufacturing units will allow Sika to achieve efficiency gains in logistics and warehousing, as well as enhancing its customer service through rapid supply and good product availability. Sika’s overall product portfolio will be boosted with the takeover.
Sika also expects to benefit from access to the Romanian firm’s large, well established network of distributors.
Alexander Bărbuț, son of AdePlast founder Marcel Bărbuț, welcomed the takeover by Sika: “AdePlast was the life’s work of our father Marcel and is a Romanian success story.
“We are convinced that Sika will convinced that Sika will continue this story and take the company even further, as one of the leading groups in Europe in our industry.”
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