Linde Romania has completed the double acquisition of both Rodmir Expert SA and ITO Industries International SA, strengthening its already leading position in the region.
Whilst financial details were not disclosed, it is understood that the transactions focus on industrial gases operations in several key locations across Romania, including Bucharest, Iasi, Cluj and Oradea.
Both Rodmir and ITO supply industrial gases to customers in the retail sector.
With this acquisition, Linde aims to enhance its product service offering and address the needs of customers of all sizes across the Eastern European country.
Linde Romania’s Managing Director Ciprian Islai stated, “This deal is a further underpinning of the success of our growing business in Romania. It showcases our commitment to invest further in the region.”
According to gasworld Business Intelligence, the commercial industrial gases market in Romania is estimated to have generated revenues of around $193m in 2015. Linde leads this market with a share of approximately 65%.
As Senior Business Analyst James Barr signified, “Linde Romania has been very active in growing its business through acquisition activity. In November 2015, Linde moved to acquire Buse Gaz SRL and its latest capacity addition came in the form of a state-of-the-art air separation unit (ASU), situated at Arcelor Mittal’s plant in Galati in 2012.”
Linde Gas first entered the Romanian gases market over two centuries ago in 1996 by forming a joint venture with UMT. The company then took over 100% of the shares in 1998 to become the sole partner, embarking on a journey of fast-paced growth ever since.
Under a total investment of around €315m ($334m) since its inception, the company now boasts a team of almost 500 specialists in sectors such as chemical, glass, energy, food, pharmaceutical and medical, petrochemical and refining, hydrogen and metal fabrication.