On 16 July, Tiltra Group uniting Lithuanian and Polish companies operating in the area of transport infrastructure acquired 28.9 per cent of shares of the Polish group of road and bridge construction companies Poldim and became the only shareholder of the Polish company.
Since December 2009 Tiltra Group owned 71.1 per cent of Poldim shares.
“The acquisition of the Poldim controlling stake at the end of 2009 was a step of strategic importance which enabled the expansion of Tiltra Group operation in Poland, therefore, we were looking for opportunities to buy the remaining shares of this group of companies as well,” stated Romas Matiukas, Development Manager at Tiltra Group.
The group of companies Poldim consists of six road and bridge construction companies. In the 2008-2009 financial year which ended on 31 March 2009, Poldim group made a net profit of 14.360 million zloty (approximately 12.4 million litas), calculated according to International Accounting Standards, and received income of 548.89 million zloty (approximately 475.66 million litas).
About Tiltra Group
Tiltra Group is the largest group of transport infrastructure companies in Lithuania, which actively expands its operation in the Polish market. In 2009, income of the group of companies exceeded 1 billion litas, 70 per cent of which was earned in Poland. The companies of Tiltra Group specialize in the construction of roads, bridges, tunnels, air ports, water ports and engineering networks. The companies of the group employ over 2,500 people.