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August 8, 2022
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BICO is expanding regionally and enters the Republic of Moldova market by acquiring Terra Impex

BICO Industries, the leading manufacturer of fiberglass mesh in Romania and part of the ROCA Industry construction materials holding, is expanding regionally and enters the Republic of Moldova market. The Romanian manufacturer has finalised the complete acquisition of the Terra Impex SRL company, of the Vulcănești Free Economic Zone in the Republic of Moldova, the two companies being active in the same industry.

“This new transaction of ROCA Industry holding is taking place in a difficult regional context, but our business philosophy is on long-term, and where some may see only risk, we are looking for growth opportunities. We believe in entrepreneurship and partnership, and the acquisition of Terra Impex is in line with our strategy of development through synergies between companies in the same industry. This is also an important moment following the listing of our holding on the Bucharest Stock Exchange and a strategic step by BICO Industries to significantly increase their production capacity. The goal of BICO for the next five years is to become one of the most important regional players by implementing an ambitious plan of direct investment in expanding the production capacity and product portfolio as well as in the team,” said Liviu Stoleru, CEO of ROCA Industry.

Through this transaction, signed on 6 December 2021 and finalised on 23 March 2022, ROCA Industry show their faith in the long-term opportunities in this region.

“We have a three-pillar development strategy, the first one being the production capacity increase by 50% of the factory in the Republic of Moldova (Terra Impex SRL), with a goal of 30 million square metres/year. The total value of the investment plan, including the acquisition, is Lei 19 million. Meanwhile, by the end of April we shall complete a Lei 12 million investment plan to expand by 30% the production capacity of the BICO factory in Vaslui. Last but not least, we are starting an investment plan in the Piatra Neamț factory, with an estimated total value of Lei 44 million, for the development of new business lines in the technical textile industry, to fuel the innovation strategy of our organisation,” said Adrian Butuc, CEO of BICO Industries.

Last year BICO Industries reported a turnover of Lei 83.9 million (+46% compared to 2020), an EBITDA of Lei 7.7 million for a 10% EBITDA margin. The shareholders of the company are ROCA Industry (70%) and Mihai Bîrliba (30%).

HOLDINGROCK1 (ROCA Industry) is listed on the AeRO market of the Bucharest Stock Echange under the ROC1 symbol and is also included in the BETAeRO index, which includes the most relevant companies on this market.

Over the 5 months since incorporation, ROCA Industry has gathered under its umbrella BICO Industries (70%), Sarcom (100%) and Terra (100%), and is now in the final stages of closing the transaction to acquire the majority stake (70%) in Eco Euro Doors, a Romanian manufacturer of doors for residential buildings.

About BICO Industries

BICO Industries SA is a company incorporated in 2006, identified in the market by the BICO brand, a leading local manufacturer of fiberglass mesh and fiberglass reinforcement, and one of the leading European manufacturers.

Their main products are fiberglass mesh for thermal systems, drywall and other industrial materials reinforcement, and corner pieces (metallic and plastic) with mesh reinforcement, sold mainly under own brands BICO and Hitrom on the Romanian market and abroad.

The main product in the company portfolio, the fiberglass mesh, is used as reinforcement of the exterior thermal insulation composite system of buildings. There are no replacements for fiberglass mesh reinforcement for thermal insulation systems in Europe.

BICO is currently conducting business in two production centres, one in Piatra Neamț, which manufactures fiberglass mesh and reinforcement for industrial products, and PVC/ aluminium corner pieces with fiberglass mesh, and one in Vaslui, which manufactures fiberglass mesh for thermal insulation systems.

 

About ROCA Industry

 

ROCA Industry is the first strategic development pillar of Roca Investments, launched in December 2021. ROCA Industry is an independent company, a construction materials holding of companies from this industry, with a business model based on consolidation, not on exits, listed on the AeRO market of the Bucharest Stock Exchange under the ROC1 symbol.

ROCA Industry holds in their portfolio companies BICO Industries SA, a company incorporated in 2006, identified in the market by the BICO brand, a leading local manufacturer of fiberglass mesh and fiberglass reinforcement, and one of the leading European manufacturers, Terra Impex, in the same industry, and Sarcom, one of the largest Romanian manufacturers of paint and lacquer.

 

 

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