Erbud plans acquisitions

MG
opublikowano: 05-12-2007, 14:46

Warsaw (Puls Biznesu) – Next year, the construction company will try to win road building contracts. Advanced talks are being held already.

 

Erbud, which today focuses on homebuilding and industry construction works today, wants to acquire one or two Polish road building companies.

“We want to do this in the first or second quarter of next year. We are negotiating the price”, Dariusz Grzeszczak, Erbud CEO said.

One of the possible targets has PLN 60m (EUR 16.6m) of sales, the other several dozens million. Both are regional companies.

 

In October, Erbud bought 75 percent of Budleks, a homebuilding company from Torun. It paid PLN 47.5m. In November, Erbud signed preliminary agreement to buy 75 percent of Rembet Plus, a construction company, for PLN 6m.

“Erbud issued shares to raise funds to acquire three firms. The company wants to fight for road contracts. Erbud still needs a company with equipment”, Samer Masri from DI BRE Bank said.

 

Erbud still has PLN 43.5m from the May issue. The company may also take credits. In the future, it plans also acquisitions abroad.

This year’s financial forecasts amount to PLN 31.3m of consolidated net income and PLN 690.7m of sales. In 2008, the company plans to generate PLN 51.6m of net income and PLN 932.5m of sales.

(PLN 1 = EUR 0.276)

 

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Podpis: MG

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