The transaction between Tiltra group from Lithuania and Poldim S.A. from Tarnów will be concluded. The Polish Office of Competition and Consumer Protection has just granted its consent to Tiltra’s purchase of 71 % of shares of the Polish company. This is an indication of a merger of two important players in the road engineering market.
Many companies were interested in purchasing Poldim; the Polish firm ultimately decided to cooperate with Tiltra Group on account of shared experiences in the same business segment. Poldim’s annual revenues amount to Pln 300 million; its position is especially robust in southern Poland.
The transaction offers the Polish company greater investment opportunities; in the past three years Tiltra Group allocated over Pln 100 million to investments. After the proprietary changes, Poldim will pursue its existing business activity albeit with a bigger capital and a wider range of services rendered.
Romas Matiukas, Head of Business Development Department at the Lithuanian Tiltra Group said:
“Poldim enjoys great professionals, a clear vision of growth and a very strong position in the region; more importantly, it has been achieved from scratch. This purchase will make us more competitive in Poland and Lithuania alike while shared experiences will reinforce our market position”.
The Lithuanians have already invested in the north-east of Poland; they own four companies associated with Tiltra Białystok. Tiltra Group specializes in designing, constructing and repairing bridges, flyovers and roads. The company’s biggest recent investments include the western bypass of Vilnius, a multi-level interchange with a 680 m long trestle bridge in Klaipeda as well a reconstruction of railway tunnel in Kaunas.
Tiltra Group’s 2008 sales amounted to Pln 811 million, including Polish companies’ share of Pln 400 million. The Group’s headcount in Lithuania and Poland is approximately 1800 employees (including approx. 400 in Poland).