Elmec buys building in Bucharest for 3m euros

Elmec Romania, a division of the Greek clothing and footwear distributor Elmec Sport, has purchased a building in Bucharest for three million euros, according to an announcement by the Greek-based company. The building is located nearby another property of Elmec Romania, in the centre of Bucharest. After the reconstruction of the two buildings is completed, Elmec will create a modern shopping centre, which will cover a total of 12,000 square metres. Elmec's plans also include taking part in the construction of a shopping centre in Craiova, with a surface of 122,000 square metres, through Microcom DOI Company. Elmec operates 130 stores in Greece, Romania, Bulgaria, but owns only part of them, including three stores in Romania. Elmec intends to expand its network of stores operated under the Nike brand in the three states, from 58 at the end of 2006, to around 70 in 2008, and open five Women's Secret stores.