• Exonia, a company producing biodegradable paper packaging, takes over the assets of the former Bakery Combine in Iași, previously managed by Vel Pitar.
The business led by the entrepreneur Tiberiu Stoian plans to develop in Iasi the largest biodegradable packaging factory in Eastern Europe. The representatives of the Exonia company did not make public the value of the transaction, but stated that the minimum valuation for this property, in the notarial grid, is over 6,5 million euros.
The assets included in the transaction of the former Bakery Complex in Iași - previously managed by Vel Pitar and owned by VP Terenuri, part of the American investment fund Broadhurst NCH Capital - are represented by the industrial platform with an area of almost 30.000 square meters and large industrial halls totaling over 7.000 sq m.
Through this strategic action, the company will have at its disposal almost one hectare of warehouses located on approximately 5 hectares of platforms, used for storage and logistics activities. And through investments estimated at over 14 million euros, Exonia aims to transform the former combined plant into the largest biodegradable paper packaging factory for the Eastern European area.
Exonia in foreign markets
"The new extremely generous production spaces, where the latest generation technological lines in the final phase of their production in Germany will be installed in the first half of next year, will give Exonia businesses the impetus and the necessary resources to support the strategic development plan developed in the first part of 2022", stated for BBC Tiberiu Stoian.
The objective of the investment is to expand the company exon on the markets of the European Union, the USA and the Middle East, benefiting from the future highway that will connect Iași to Western Europe, as well as the port of Constanța.
"The development of the Exonia operational center in Iasi aims to take advantage of the proximity to the Ukrainian market, which after the end of the armed conflict, will generate consistent consumption that will be stimulated by the financial support for reconstruction offered by the European and American partners", added the company representative, Tiberiu Stoian.
The business was founded in 2003 by Tiberiu Stoian and his wife Nadia and in addition to the paper packaging manufacturer Exonia Holding has investments in the production and distribution of polymer packaging, IT, real estate and agriculture in Romania and the USA.
Article written by Gabriela Dan, Editor of Arta Albă
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