7m-euro takeover of Romcif Fieni

Carmeuse Central Europe, the joint venture established by Belgium’s Carmeuse Group (from within the lime industry) and the European Bank for Reconstruction and Development (EBRD) will pay some 7 million euros to buy the Romcif Fieni lime factory currently held by Germany’s HeidelbergCement. This deal, due for completion in a matter of days, is actually the final move in the withdrawal of cement producers from the Romanian lime market, where sales reach 30-31 million euros a year. “The shares in Var Fieni SRL, which operates the lime factory in Fieni, are being bought by Carmeuse Central Europe from HeidelbergCement Lime Hungary BV. The value of the acquisition is almost twice as high as the market value of this factory, which is however a strategic target,” the quoted sources stated. Carmeuse Central Europe, a company registered in the Netherlands, was recently set up when Belgian Carmeuse Group, one of the worlds leading lime industry players and EBRD teamed up for a 75%-25% joint venture. ZF