Horizonte sells stake in Styromal d.o.o.

Vienna/Sanski Most – The sale of Horizonte’s stake in Styromal d.o.o. was announced today. The company specializes in the production and distribution of plaster material and glues. Styromal was sold to Skrle Promet d.o.o., a leading wholesaler of construction materials in Bosnia and Herzegovina.

During Horizonte’s investment the company has erected a greenfield state-of-the-art production facility in Sanski Most / Bosnia and Herzegovina with an annual production capacity of 60.000 t. Today the company supplies the markets in Bosnia and Herzegovina with its first class products.

Dr. Matej Penca, Horizonte Managing Partner, commented: “After having developed Styromal successfully from scratch we are convinced that the company will continue its successful development capitalizing on the distribution power of its new owner. This exit shows that state-of-the-art projects are interesting acquisition targets also in difficult economic times.”