Tribo to buy Czech-based Temac and Temac Avtomotive from Russian owner
Tribo, a large Ukrainian manufacturer of friction and brake products (Bila Tserkva, Kyiv region), intends by the end of this year to complete the purchase of two related companies in the Czech Republic, Temac and Temac Avtomotive, owned by Russian companies, Tribo Group owner Kostiantyn Yefymenko has said.
"We've decided to buy two enterprises in the Czech Republic. Temac and Temac Avtomotive will become part of Tribo Group by the end of the year," he wrote on his Facebook page.
Among the benefits of this acquisition, he noted sales to 15 countries in Europe (approximately 25% are the Czech Republic and Italy), the cost of loans of 1.5%, electricity is 15% cheaper than in Bila Tserkva, no tax checks during ten years.
"VAT refunds, regulatory issues - there are no questions at all. As for minuses, in our opinion, it's not worth talking about them, everything is clear. We think that the Czech Republic could become a window for the goods of our group to enter the EU market. Raw materials are cheaper in the Czech Republic, we're already supplying from there," the expert said.
"We hope to earn money, it's trite, but the goal is that," he concluded.
Temac, founded in 1917, specializes in the development and manufacture of industrial gaskets for various industries.
Temac Automotive produces gaskets, rings for exhaust systems, spare parts for cooling systems, washers, brake pads for cars and rolling stock, etc.