Kamnik, 04 June (STA) - Calcit, the Stahovica-based manufacturer of calcium carbonate pigments, fillers and granulates, has seen a major ownership change as its Austrian stakeholder Wietersdorfer doubled its interest to just below 50%.
According to a report in Monday's issue of the newspaper Dnevnik, the change happened as Calcit's general manager Matevž Kirn and technical department manager Miha Kirn sold a 33% stake in the company that served as a vehicle for the management buyout of Calcit to Wietersdorfer.
Wietersdorfer previously held 25% in Calcit, and the management buyout vehicle 75%. The latter had originally been owned by about 100 shareholders, but then the Kirns started to buy shares and sold them to Wietersdorfer at the end of last year.
A week ago Calcit's shareholders' meeting voted to merge the buyout company with Calcit, thus enabling Wietersdorfer to increase its shareholding in Calcit to 49.9%.
Wietersdorfer, which is in the same line of business as Calcit, received clearance from the Competition Protection Agency for the concentration on 10 May.
"Calcit is seeking to expand and develop its business. A partnership with Wietersdorfer will substantially contribute to that. Anyway, for the time being we are not planning to acquire a majority stake," the news portal Siol quoted Simon Wahl as saying on behalf of Wietersdorfer in February.
Wietersdorfer also controls a 75% stake in Slovenian cement producer Salonit Anhovo through its firm Intercement. It has withdrawn as owner from building materials manufactures Baumit and Kema Puconci.
According to Dnevnik, Calcit increased its consolidated net profit by almost 50% to EUR 7m, mainly due to the breakthrough of the Croatian subsidiary Calcit Lika, whose sales revenue almost tripled to EUR 28m.
A major supplier for the paper, construction and paint industries, Calcit group sells 90% of its output abroad. In the past few years it has invested EUR 30m in technological equipment and development.