Construction supplies manufacturers Simcor Oradea and Celco Constanta want to take over Soceram Bucharest together. This is the last major asset still held by the State on this segment. The deadline to submit bids for the 80% in Soceram owned by the State Asset Resolution Authority (AVAS) was extended at the last minute for the second time and was set for October 14, sources close to this business say. Soceram has stirred keen interest among the Romanian players on this market, such as Elpreco Craiova (whose majority shareholder is US investment fund Broadhurst), Metaleuroest and other construction supplies producers. Simcor and Celco are interested in Soceram's production portfolio, which owns four factories that make autoclaved cellular concrete (ACC), bricks, ceramic roof tile and burnt tile products for the constructions industry. None of the two operates on the brick market, which has become a target for foreign investors lately, due to the growth of the segment. "This will be a 50%-50% alliance between Simcor and Celco for Soceram Bucharest. We want to make investments in Soceram in order to keep production at the current levels, at least," Mihai Voiculescu, Simcor (over 20 million-euro turnover in 2003) chairman and one of its main shareholders told Ziarul Financiar. Nicu Dusu, one of Celco's main shareholders says, "the alliance was necessary because one of the authorities' requirements was to have at least 30 million-euro business volume." ZF
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