GAMRAT
Polish pipe and sheet manufacturer acquires majority share in Bulgaria's Devorex
 Devorex’s hub in Plovdiv (Photo: Gamrat) |
Polish plastic pipe and sheet manufacturer Gamrat (Jaslo; www.gamrat.pl) is raising its international profile. The company recently announced that it had acquired 90% of Devorex (Plovdiv / Bulgaria; www.devorex.com), a roof gutter and pipe systems manufacturer. The EUR 7.76m deal also includes the option for Gamrat to acquire the remaining 10% of Devorex shares.
The Jaslo-based company believes the transaction will yield significant growth potential, also as a result of the low production costs in Bulgaria. The Polish company emphasised that Bulgaria’s minimum wage currently stands at EUR 150 per month.
Devorex reportedly generates an Ebitda margin of 35%. Founded in 2004, the Bulgarian company mostly produces parts made of PP and PVC. Key customers include hardware stores such as Praktiker, BauMax and OBI. Aside from plastic pipe systems and sheets, Gamrat also produces roof gutters, as well as ceiling profiles, sheathing and pipes made of PVC.
The Jaslo-based company believes the transaction will yield significant growth potential, also as a result of the low production costs in Bulgaria. The Polish company emphasised that Bulgaria’s minimum wage currently stands at EUR 150 per month.
Devorex reportedly generates an Ebitda margin of 35%. Founded in 2004, the Bulgarian company mostly produces parts made of PP and PVC. Key customers include hardware stores such as Praktiker, BauMax and OBI. Aside from plastic pipe systems and sheets, Gamrat also produces roof gutters, as well as ceiling profiles, sheathing and pipes made of PVC.
13.12.2012 Plasteurope.com [224114-0]
Published on 13.12.2012
German version of this article...