ZF English

Cristescu brothers to invest 20m euros in troubled companies

06.11.2008, 19:43 14

Timisoara-based businessman Marius Cristescu, who controls Bega group together with his brother, says they intend to acquire several plants affected by the economic crisis. "I think this is a good time for acquisitions, given that a whole range of companies can no longer repay their credits. We have a 20 million-euro budget and we are looking for facilities in our sector, mainly for quarries (minerals) and for plants close to our facilities in Timisoara and in the courtyard of the Faur plant, some of which are involved in the automotive field," Cristescu said, specifying that he was already in talks with several companies. The Cristescu brothers have, over time, bought several troubled companies, most of them from the state.

 

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