Macon Deva to acquire the Simcor group of companies for €53 mln

Macon will take over the seven companies in the group, namely Simcor, Simbeton, Simterac, Simcor Var, Simcor Management, Simpromat and Simsped, controlled by German businessman Stache Lutz and his associate, Mihail Voiculescu, who are selling a 78 percent package.

“The value of the transaction is €53 million for all seven packages. The Simcor takeover is confirmation of our intention to turn Macon into the top market player,” according to a statement for Business Standard by Cristian Nacu, Partner of Enterprise Investors.

Macon’s takeover of Simcor Oradea will make it the top producer of aircrete, with a market share of some 30 percent, on a market valuated last year to amount to an annual 2.2 million cubic meters. The company’s present capacity is some 400,000 cubic meters, while Simcor’s Oradea and Suceava factories produce an annual 315,000 cubic meters of aircrete.

The massive demand for aircrete in the past few years, due to a spectacular rise on the construction market, has led major investors to come onto the Romanian market to acquire local producers. As such, he takeover in 2006 of Macon Deva by Enterprise Investors, was followed at the end of last year by the acquisition by Irish-based CRH of the majority share package of Elpreco Craiova.