The Villeroy & Boch group, a German family business with revenues of 948.6 million euros in 2003, is set to sell its Mondial Lugoj ceramic tiles plant to Lasselsberger company, an Austrian family business, in the coming period.
Villeroy & Boch put three tiles plants located in Romania, Hungary and Italy on its sale list, in line with the stipulations of a restructuring programme that was finalised at the end of last week. The Germans hold about 99.4% of the stock of Mondial, the third largest ceramic tiles producer on the Romanian market.
The deal, whose price has not been disclosed, pushes the Lasselsberger group into first place on the Romanian market. The company will increase its share capital from 25% to about 35%, thus outrunning the Hungarians of Zalakeramia (Cesarom). Lassersberger, which has taken over the largest ceramic tiles producer on the Romania market, Sanex Cluj-Napoca, made a strong entrance with a campaign of acquisitions. Some weeks ago it failed to take over the Hungarian group Zalakeramia, which owns the second largest player on the Romanian market, Cesarom. The Austrians are now making moves to acquire the third largest domestic producer.
The Romanian tiles market witnesses annual sales of about 110 million euros.
Villeroy & Boch is the European leader as regards the production of ceramic sanitary ware, a sector in which Mondial Lugoj holds 55% of the local market.
In 1996, the Germans bought stock in Mondial from the former State Ownership Fund and have invested over 17 million euros since the takeover. Mondial Lugoj, with deals put at 24-25 million euros in 2003, holds production capacities for 2.1 million square metres of tiles.
With Lasselsberger's takeover of Mondial, the current configuration of the market will change. The Austrians will hold about 35% of the market, higher than Zalakeramia - 25% and double the stake held by Delta Distribution (the strongest importer), while the other two smaller producers, Roman Ceram and Romceram Chitila, together with tens of other importers, jointly own about 23% of the market.
The competition authorities need to approve the deals for the plants in Hungary and Romania. The Austrians' final market share is however expected to be higher, considering they have announced they are likely to also become involved in import activities. Moreover, their expansion plans also include the construction of new production facilities in Romania.
adrian.mirsanu@zf.ro
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