Bico Industries, the main producer of fiberglass mesh in Romania and part of the construction materials holding company ROCA Industry, is in advanced negotiations for the acquisition of a 77.5% stake in the share capital of Iranga Technologijos, a Lithuanian company.
The value of the transaction is EUR 4 million and is subject to the successful completion of the due diligence analysis and the possible approvals of the relevant institutions.
The acquisition will support the diversification of the markets in which the Romanian holding companies are present, all of which contribute to the creation of added value around them, through synergies and common tools. Iranga operates on the technical and construction textiles market, offering solutions based on a complex range of technologies for the production of glass fiber fabrics and composite materials through fabric lamination, an activity similar to one of the business lines owned by Bico.
The acquisition of the Lithuanian manufacturer of technical and construction textiles comes in the context in which, during this year, the ROCA Industry holding was joined by the companies Eco Euro Doors and Terra Impex (completely acquired by Bico Industries), and a third transaction, the one for the acquisition of 100% of Dial’s share capital is in the process of completion.