Romstal Group, specialising in sanitary ware, thermal and electrical products production and distribution, was valued at about 390m euros, after Enrico Perini, the company's main shareholder and founder, transferred the 51% stake he held in the group to a firm specialising in holding operations.
The 51% stake was put at around 825.7m RON (around 195m euros), according to PwC consulting and audit firm.
This is the first assessment Romstal makes public, with estimates only based on the profit margin being launched so far.
Thus, Perini, 42, brought 825.7m RON (around 195m euros) to the share capital of Perini Land Holding firm created to boost the efficiency of the business. Directly, the businessman thus controls 99.9922% in the company, while Perini Properties & Investments owns below 1% in capital.
The contribution to this company's capital is represented by the value of shares Perini holds in Romstal group, transferred from the individual to the legal entity. The rest of stock is held by Italy-based Framan firm (40%) and by Ovidiu Henter, CEO of Romstal group, with a 9% stake.
Assessed at around 390m euros, Romstal group may be among the 50 most valuable companies in the country, taking into account "Most Valuable Companies in Romania Yearbook" compiled by Ziarul Financiar together with Capital Partners investment firm. The yearbook does not assess the value of holdings, though.
Romstal group's turnover in 2009 fell by 35% year-on-year, to 350m euros, on the sudden decline in consumption of thermo-hydro-sanitary building materials.
Under the circumstances, the group in 2009 shifted to strengthening its business and to foreign expansion. Moreover, Perini also expanded the range of fields Romstal group operates in, adding that of renewable energy.
Perini has recently told ZF he did not expect consumption on the building mat
