Maribor, 06 February (STA) - Lumar IG, one of Slovenia's leading manufacturers of prefabricated houses, has been incorporated into Austria-based Green Building Group, the company management told the press on Monday. With the move, the company hopes to expand to the markets of Austria and Germany, where the Green Building Group has a strong presence.
Lumar has become a leading company for pre-fabricated passive and low-energy houses in Slovenia and is also present on the Italian market. Lumar founder Milan Lukić told the press that the situation in Slovenia and Italy was very troubled and the company had to find a solution to preserve its position.
"This is not a sale but an organic connection," said Lukić. The company will keep its name, a synonym for a brand of high class. "We have one of the highest credit ratings, there is no reason to sell. We only want to improve our results in the future."
According to a press release from the Green Building Group, the group acquired a majority stake in Lumar and the company's founding owners, the Lukić family, took a stake in the Green Building Group. Lumar will keep its production in Maribor.
Lumar CEO Marko Lukić told the press that the company is counting on rationalising expenses through the sales network of the Green Building Group in Austria and Germany and on help with big projects.
The Green Building Group on the other hand sees a great opportunity to expand onto the markets of Italy and France, where Lumar is already present, according to CEO Wolfgang Marka. He said that it took them a year before the deal was settled. He believes that the merger will bring synergies for both sides.