Bucharest, December 15, 2023 – # rbj – A dry news, without much significance, at first glance, issued by the Romanian Competition Council, shows that the anti-trust authority in Bucharest “authorized the transaction by which African Industries Group intends to take over the Padova companies Agriculture S.R.L and Contara S.R.L, through Vectr Farm Braila S.R.L.”
Who are the two Romanian companies about which very little is known?
Padova SRL operates on the market of grain production and marketing in Romania, especially agricultural products such as rice, corn, wheat, barley, rapeseed, sunflower, alfalfa and soybeans.
Until 2022, Contara produced and marketed rice crops, but starting with the 2022 agricultural year, the activity focused on the production of cereals such as corn, wheat and sunflower.
Who is African Industries Group (AIG)? It is one of the largest industrial and service conglomerates, led by brothers Raj and Alok Gupta. AIG’s over 50 years of activity in Nigeria has contributed to the industrial development of this West African country.
The efforts and achievements of AIG in Nigeria are an example for many entrepreneurs and private organizations to follow in what is called the “reindustrialization” of Romania.
AIG is a diversified global conglomerate with a legacy of 51 years of business excellence and sustainable growth. It is headquartered in Lagos, Nigeria. It has been contributing to Nigeria’s socio-economic growth and industrial development and is equally committed to the nurturing and development of the local community.
AIG owes its success to the core philosophy of ‘Building the Future Together’. Its business strategy is inclusive, and sustainable, and not only benefits stakeholders but also positively impacts the environment and society.
It has been predominantly a manufacturing company, with operational excellence benchmarked to global standards. The group has around 35 state-of-the-art manufacturing plants and facilities located in various locations across Nigeria, creating employment opportunities. Its investment and expansion in manufacturing with the latest functional technology provide long-term employment to thousands of Nigerians, for people from across the globe. It also creates ancillary employment for many more.
With over five decades of responsible business practices, the Group has evolved into a driving force in various sectors like Iron and steel manufacturing, power generation, agricultural products, steel processing, building materials, plywood and allied products, logistics and shipping, lead products, cans manufacturing, refractories products, industrial glass, other construction materials, and more recently, mining and steel processing, renewable energy, and aluminum products.
In Romania, AIG is involved in the exploitation of arable land (it owns almost 15 hectares of arable land), the distribution of agricultural machinery, real estate development and investment, electricity production, fitness services and consulting activities of holding companies.
For the development of businesses in Romania, AIG uses Vectr Brăila, a holding company created to acquire the two mentioned companies. In 2022, Vectr Braila SRL saw a turnover of over 7 million lei (almost 1.5 million Euros), a profit of 883 thousand lei and 18 employees.
With these new acquisitions of small Romanian companies, AIG has every chance to become a strong actor in the Romanian and regional economy.