Carmeuse and EBRD team up

Belgian group Carmeuse, one of the world’s top two producers of lime, together with the European Bank for Reconstruction and Development (EBRD) will set up a joint venture called Carmeuse Central Europe, headquartered in Romania, according to sources close to the project.

The new entity, which will co-ordinate the Belgians’ operations on six markets in the region, will acquire the lime plant in Fieni, owned by German group HeidelbergCement. The estimated value of the deal ranges between 4-8 million euros.

EBRD will control 25% in Carmeuse Central Europe stock and this year will help the Belgian group to consolidate its operations in Romania, as well as on the other markets in the area, namely the Ukraine, Bulgaria, Serbia and Montenegro, and the Russian Federation, by pouring investments worth 7 million euros.

Carmeuse last year sealed the most spectacular deal on the market, taking over Temelia Brasov, owned by German group HeidelbergCement for 10-11 million euros. Following the transaction, the number of lime plants held by the Belgians rose to three, from one, on a market estimated to be worth about 30-31 million euros.

The main rivals of the Belgian group on the domestic market are Simcor Oradea (which has recently taken over the lime operations of French group Lafarge for 4-5 million euros), Prescon Brasov (a company controlled by Brasov businessman Ioan Neculaie), as well as industrial operators producing for their own needs (COS Targoviste, Ispat Sidex, UPSOM Ocna Mures and Carbid Fox Tarnaveni).

Carmeuse produces about 230,000 tonnes of lime per year, and is the biggest domestic producer in this sector. Globally, the Belgian group logged deals worth 868 million euros in 2002.
adrian.mirsanu@zf.ro