The Austrian construction supplies group Tondach, one of Europe's major ceramic roofing tile producers, is the first strategic investor to enter the Romanian market, drawn to it by its growth potential and size.
The Austrians bought an 85% stake in the Cema Sibiu ceramic roofing tile factory and announced they were going to build another one from scratch, next to the already existing facility, as part of a 23-25 million-euro investment. However, the Austrians would not say how much the deal was worth.
"Tondach Romania (the Romanian branch) accounts for approximately 18% of the domestic ceramic roofing tile market, now that it has taken over the Sibiu factory. The building of another factory in Sibiu, next to the already existing one will not happen in 2004 or 2005, but rather in 2006. Such an investment requires 23 to 25 million euros. We already have the necessary land to develop this project on," Martin Olbrich, assistant to Tondach's Board of Directors told Ziarul Financiar.
Tondach Group, whose 2003 turnover amounted to 190 million euros, is 50% held by Austrian-born Franz Olbrich (both CEO and chairman of Tondach's Board) together with another individual. The other 50% stake is equally divided between French construction supplies giant Lafarge and Austrian brick producer Wienerberger.
The two groups each hold 50% in Austrian Bramac Group, which will open a concrete roofing tile factory in July. Moreover, Wienerberger operates two brick factories in Romania, one in Sibiu and one in Gura Ocnitei.
The Sibiu area has acted as a magnet for investment projects worth tens of millions of euros over the last two years, thanks to the very high quality of the clay quarries, which supply the production facilities in the region with raw material.
adrian.mirsanu@zf.ro
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