Two companies within Mobexpert group to merge

Suceava-based furniture manufacturer Moldo Mex is to be merge by absorption with Stratus Mex, with both companies being held by businessman Dan Sucu, the owner of Mobexpert. According to a decision made by its sole shareholder in April 2007, the merger will entail dissolving Stratus Mex and transferring its assets to Moldo Mex, with the new company set to have a share capital of 6.65 million RON. The Mobexpert group, controlled by businessman Dan Sucu, is one of the most important furniture producers in Romania. According to Sucu, the company’s business is expected to increase by 15% this year to 162-163 million euros. These estimates take into consideration the fact that the group no longer includes the luxury furniture division, Class, which was given by the businessman to his ex-wife, at the end of last year, as part of a divorce settlement. The company posted a turnover of over 150 million euros in 2006. The Mobexpert network includes four hypermarkets in Bucharest, one in Brasov and 27 stores throughout the rest of the country. The company intends to open its first hypermarket in Sofia in September, following a six million-euro investment. The Mobexpert group also owns ten furniture factories, five import and logistics companies, and the real estate company Domus Mex, which is also the owner of all the group’s Romanian-based properties.