Polish Gamrat buys Bulgarian PVC products firm Devorex in EUR 7.76mn deal.

By bne IntelliNews December 19, 2012
Polish PVC construction components supplier Gamrat has agreed to buy a 90% stake in Bulgarian roof gutter and pipe systems company Devorex for EUR 7.76mn, European Plastics News reported. The agreement provides for an option the remaining 10% of Devorex to be acquired at a later stage. Gamrat, which was acquired by Polish floor coverings producer Lentex in May 2011, hopes Devorex purchase to help its growth plans thanks in part to the lower labour costs in Bulgaria. Plovdiv-based Devorex has launched earlier this year a new plant for the production of mouldings. Devorex exports its products to more than 20 countries in Europe, Africa and Asia.

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