Pilkington Automotive, a member of the Nippon Sheet Glass (NSG) Group, recently acquired Cluj-based Gimarom, which distributes and installs autoglass and which posted turnover of over EUR 9 million in…
Pilkington Automotive, a member of the Nippon Sheet Glass (NSG) Group, recently acquired Cluj-based Gimarom, which distributes and installs autoglass and which posted turnover of over EUR 9 million in 2006. The UK firm acquired Gimarom through its takeover of Hungary“s Gima group, which was the majority shareholder in the Romanian company, daily Ziarul financiar reported on 20 February 2008. When contacted, Gimarom officials confirmed the transaction but not the sum. Gimarom Invest posted net profit of EUR 1.5 million in 2006, according to Finance Ministry data. At the time of the takeover, the store chain numbered 21 outlets with over 150 employees. The head of Gima“s operations in Romania and Hungary will be Peter Takacs Jr., the son of the company“s founder. Pilkington has been testing the water for several years on the Romanian market. In 2003 it announced a USD 100 million investment strategy for a float glass plant with Brasov one of the possible locations. The UK firm later dropped the investment, although the project was nearly complete, the newspaper informed.