The Exonia company negotiates the taking over of another company for packaging in Iasi

The producer of biodegradable packaging Exonia in Iasi announces that they negotiates the acquisition of the whole package of shares of another producer of packaging in Iasi, namely Barrier Vaccum Bags, the value of the transaction being estimated over 1.35 million euro.   The leadership of the Exonia company said on Monday, in a press release that they negotiate regarding the possible acquisition of the whole package of social shares of the Iasi producer BVB (Barrier Vacuum Bags), operated by Plastic & Paper Distribution SRL. The discussions between the two parties are underway, but sources on the market say that the value of the transaction could surpass the sum of 1.35 million euros.   Plastic&Paper Distribution SRL is a company with Romanian capital and was set up by the business man Marius Velescu. This company is among the few producers in Central and Eastern Europe with their own capacities for production of packaging specially destined to vacuum packaging of fresh food products as well as components specially used in aviation industry and car industry. Among the BVB clients is Airbus Elicopters Ghimbav, Smithfied Timisoara, Aerostar Bacau, Vel Pitar, Vodafone UPC and DB Foods.    At the same time, the leadership of Exonia company Iasi said that they analyse several opportunities of acquisition both of Romanian producers of packaging and distributors specialised in this niche, saying that ' it is a company well capitalised , with liquidity and very good results'. ' We aim at covering as soon as possible an important market share at national level, as well as the diversification of our portfolio both through the development of investments in the new technologies lines as well as through mergers by absorption of other companies which have demonstrated their resilience in time' announces the Iasi company.   The Exonia Iasi group was set up in the 2000's by Tiberiu Stoian, enterpreneur with investments in the packaging industry, IT, tourism and commerce in Romania and the US.   The group is made up of three entities, Exonia Holding, producer of paper packaging, Exonia Production, producer of plastic packaging and Artis Design, integrator for industrial digitisation solutions.   Exonia Holding is estimated at more than 25 million euro. The company in Iasi has investments of over ten million euro, and starting next year they recruit new employees.