Romaco was officially taken over by Truking on 30 June 2017, as a result of the change in ownership the Chinese Truking Group acquired 75.1% of the total shares in the Romaco Group
The contract of sale with Deutsche Beteiligungs AG (DBAG) was signed on 28 April 2017. DBAG will surrender the remaining 24.9% of its shares in Romaco to Truking within the next 3 years.
More strategic acquisitions are planned as part of the drive to strengthen the Romaco portfolio. Parallel to this, the various Romaco sites will be successively expanded and enlarged.
The initial planning phase for the construction of a new plant in Bologna has already begun. A new laboratory will open up in China to support Romaco’s research and development activities in the area of process technology.
At the end of July, the Romaco management team will travel to Changsha, in the Chinese province of Hunan, for a one-week workshop at the Truking headquarters.
The Romaco Group Management will visit Truking together with the Managing Directors of the various production facilities as well as the Heads of the Sales and Service Centres.
Paulo Alexandre, CEO Romaco Group, said: “Our experience of the Truking management so far has been thoroughly positive. Despite the language barriers, communication with Truking has been extremely efficient and decision processes are very fast.
That widens our leeway to develop new strategies, which will strengthen our position in the market. Now that the transaction has been brought to a successful conclusion, we’re looking forward to applying the measures adopted.”