Enterprise Investors in pole position to take over Simcor

Quotes sources added that Enterprise Investors, which administers the Polish Enterprise Fund and which has the BCA Macon Deva business in its portfolio, is in pole position in negotiations to take over Simcor, having made a bid exceeding €60 mln. The German businessman Stache Lutz, main shareholder of the Simcor group, and his associate, Mihai Voiculescu, carried out discussions with several potential investors.

Contacted by Business Standard, Mihai Voiculescu, representative of Simcor Oradea, indicated that he could not divulge confidential information on the negotation process until the deal is concluded.

By the closing of this edition, Enterprise Investors officials could not be contacted.

If Enterprise Investors acquires the Oradea group it will become the largest producer of AAC in Romania, with a total annual production capacity of some 550,000 cubic meters, representing 25 percent of local production, valuated in 2007 at 2.2 mln cubic meters. At present, Macon Deva produces an annual 240,000 cubic meters of AAC, while the two Simcor factories in Oradea and Suceava have a total annual production capacity of 315,000 cubic meters.

The Simcor group has nine companies, and its aircrete business produces the greatest yield, worth €25 mln, followed by its annual production of 230,000 tons of lime in Targu Jiu and Medgidia. Other companies produce, among others, mortars and adhesives, prefabricated concrete, electrical poles, and fireplaces.