Polish parquet producer Barlinek, held by billionaire Michal Solowow, with a fortune estimated by Forbes at 2.3 billion dollars, is interested in acquiring 99.9% in Romanian company Diana Forest, according to polishmarket.com. The majority shareholder of Bacau-based Diana Forest is Eurogalia, the industrial branch of the Spanish group Empresarial Fadesa SA, which purchased the majority stake from the Romanian state in October 1998. Since the takeover, Eurogalia has conducted investments worth around 90 million euros, primarily to construct new production areas within the already existing facilities. At the beginning of this year, Diana Forest operated three production facilities, in Onesti, Comanesti and Margineni, all of which were located in Bacau county. The facility in Onesti was closed in spring due to the losses incurred by export operations, as well as due an increase in the price of raw materials. Around 120 employees were made redundant at the time. The company is also preparing to close its other two facilities, and has initiated collective redundancy procedures for 1,148 employees, according to company sources.
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