Bucharest-based Stirom glassmaker, member of the Yioula Group so far, will pass under Portuguese ownership, the business being sold by the Hellenic group to BA Vidro. The transaction value was not disclosed. The deal will be completed by the end of this year, after being approved by the Competition Council.
Although the local company increased its total revenue to RON 143.60 million in H1 of this year, Stirom has not increased the profitability to a comparable level.
Thus, Stirom posted total revenues higher by 18.31 percent in the first half of the year, than RON 121.37 million in the similar period of 2015. During the same period, however, the total expenses increased by 18.18 percent to RON 128.93 million from RON 109.09 million. This is the context in which Stirom’s quarterly net income reached RON 11.75 million, an increase lower than the revenues of 6.04 percent against the net profit of RON 11.08 million in H1 of 2015.
The BA Vidro group now comprises of eight factories and has a daily production of more than 14 million units – bottles and jars – for customers operating in the food and beverage industries.
With a total of eight factories and 2.400 employees, 1.600 in the Iberia plants, 660 in the Polish plants and 140 in the German plant, Portuguese company BA Vidro has an annual production over 6 thousand million containers in 10 colors: Amber, Dark Amber, Flint, UV Flint, Light Blue, Georgia Green, Black, UV Green, Dark Green, Emerald Green.
The factories are structured – in terms of size and technology – and the production lines are specialized to satisfy the different needs for glass packaging of the food & beverage industries.