Molins partners with Mexican company Titan to buy a company in Bosnia

BarcelonaCatalan cement company Molins and Mexican company Grupo Titan have agreed to jointly acquire 80% of Bosnian Baupartner, a company specializing in prefabricated concrete and steel structures, the two companies announced in a joint statement. The purchase will be made through a joint venture (joint venture) between the Catalan and Mexican companies, which have not revealed the price of the transaction.

The remaining 20% of Baupartner's capital that does not become the property of the joint venture It will remain in the hands of the founding partners, led by its founder, Eldin Hadzibegovic, who will continue to play a leading role in the company's management. Hadzibegovic stated that the entry of the two Catalan companies into the company's shareholding will bring "strength, experience, and stability" to the company.

Baupartner was founded in 2010 and currently operates in Bosnia and Herzegovina, Croatia, and Serbia. The group has a workforce of 280 and is dedicated to the design, manufacture, and assembly of custom-made prefabricated structures.

Growth Strategy

"This agreement represents an important step in our growth strategy in the precast concrete solutions business," Molins CEO Marcos Cela stated in the statement. Marcel Cobuz, Chairman of the Executive Committee of Grupo Titan, indicated that the transaction is "perfectly" aligned with its "strategy of portfolio diversification and promoting the introduction of new and efficient construction technologies."

Titan and Molins expect to definitively seal the acquisition during the third quarter of this year once they have obtained the necessary regulatory approvals for this type of business transaction. Until then, Baupartner will continue to operate as a separate company.

Grupo Titan, headquartered in Santiago de Querétaro, central Mexico, is a company specializing in construction materials, precast materials, furniture, and engineering. With the acquisition of Baupartner's capital, it strengthens its presence in southeastern Europe.

Molins, who last December returned the headquarters to Catalonia which had been released in 2017 due to the referendum, began last year a unification of brands accompanied by an investment plan to improve its facilities in Spain – for example, it will invest 590 million euros in a decarbonization project at its Sant Vicenç dels Horts plant (Baix Llobregat) – and enter new markets, like the United States.