Sanex buys 4m euros in tiles

Tile and sanitary-ware producer Sanex Cluj-Napoca concluded a contract whereby it will purchase 4 million euros worth of ceramic tiles from Lasselsberg AS Czech Republic. The closing of this contract is particularly interesting, considering Sanex is the leading ceramic tiles producer in Romania and is said to account for 23%-25% of the floor and wall tile market. Company officials were not available to comment on the deal. Lasselsberger AS is held by Lasselsberger Gmbh Austria, which bought Sanex in late April. Market sources estimate the deal to be worth 15-20 million euros. The Austrian group bought investment vehicle Goodison Holdings BV, which held 67.4% of Sanex, thus becoming its principal shareholder. Goodison Holdings was previously controlled by the Romania-Moldova Direct Fund and its officials said the sale of Sanex to a strategic investor like Lasselsberger will provide it with the necessary means to achieve its expansion goals. ZF