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Romanian cardboard maker completes takeover of paper producer
Romanian cardboard producer Vrancart Adjud has completed its acquisition of local competitor and paper maker Rom Paper Brasov.
The takeover is estimated to be worth between €4.2 million and €6.5 million, according to the information obtained by local news magazine Profit.
Before the acquisition was finalised, Vrancart Adjud held a 84.9% stake in Rom Paper Brasov, but the producer purchased the remain-ing shares from the firm’s founder, Claudiu Puchin.
Company representatives from Vrancart Adjud have said that the manufacturer is planning to invest in expanding and modernising Rom Paper Brasov's output capacity.