Bulgaria Prista Oil Group Acquires Hungary's Bogdany Petrol
Bulgaria's Prista Oil Group, one of Eastern Europe's biggest makers of lubricants, has bought a 92 % stake in Hungarian chemical producer Bogdany Petrol, the latter announced.
The sum of the deal was not disclosed.
The investor has ambitious expansionary plans and will aim to double Bogdany's current revenues and turn it into one of Europe's biggest manufacturer in its line of business.
Bogdany Petrol was founded in 2000. It produces petroleum jelly (used in pharmaceuticals and cosmetics), telephone cable filling compounds, special paraffin waxes, industrial oils and protective lubricants for wire ropes, among others.
The company had revenues of HUF 6.2 B in 2008, a 29% increase over HUF 4.8 B posted in 2007.
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