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BNS - The Estonian competition watchdog has given the Belgian company Recticel permission to acquire dominant influence in AS Wenfom, a foam rubber processing company based in the southwestern Parnumaa region.
Recticel had a holding in Wenfom before, as it owns 50 percent of Eurofoam GmbH which has a 51 percent stake in the Estonian company.
Recticel, the largest foam rubber maker in northern Europe, completed recently through international transactions another takeover in this country, acquiring the assets of AS Univa.
According to the 2007 financial statement, the sales revenues of Wenfom totaled 66.6 million kroons (EUR 4.3 mln) and the profit, 2.3 million kroons. The company employed 20 people. It sold its output mainly on the domestic market.
(EUR 1 = EEK 15.65)
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