THE EUROPEAN COMMISSION AND TURKEY APPROVED THE AGREEMENT BETWEEN ΕTEM BULGARIA AND GESTAMP GROUP
On January 10, 2019, Viohalco announced the conclusion of an Investment Agreement between its wholly owned subsidiary Εtem Bulgaria SA (‘Etem Bulgaria’) and Gestamp Group for the establishment of two joint ventures which will focus on the extrusion and processing of aluminum profiles for the automotive industry. Having received approvals from the competent European (European Commission) and Turkish competition authorities, Etem Bulgaria and Gestamp North Europe Services, S.Lclosed on April 24, 2019, the transaction contemplated in the said Investment Agreement.
Viohalco is the Belgium based holding company of a number of leading metal processing companies in Europe. It is listed on Euronext Brussels (VIO) and the Athens Stock Exchange (BIO). Viohalco’s subsidiaries specialize in the manufacture of aluminium, copper, cables, steel and steel pipes products, and are committed to the sustainable development of quality, innovative and value-added products and solutions for a dynamic global client base. With production facilities in Greece, Bulgaria, Romania, Russia, North Macedonia, Turkey, the Netherlands, and the United Kingdom, Viohalco companies collectively generate annual revenue of EUR 4.4billion. Viohalco’s portfolio includes a dedicated technology and R&D segment, as well as recycling activities and waste management services. In addition, Viohalco and its companies own real estate investment properties, mainly in Greece, which generate additional income through their commercial development.