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Friday, 10.01.2025, 07:29
Long-time owner of Estonian Mistra-Autex buys out business partner
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There are no plans for major changes in the company, Tamm told BNS. In his words, he's fully satisfied with the previous year's 40% turnover growth.
The price of the deal is below 10 million euros, Tamm said but refused to reveal the exact figure.
Vaaderpass told BNS he was unwilling to comment on the transaction but added that he might write about it in five years' time. Asked whether the price tag was between 5 and 10 million euros, he replied that he was not in a position to comment owing to the confidentiality clause.
Mistra-Autex's core activity is production of non-woven and tufted carpet products for the automotive industry. Export accounts for 99% of the company's turnover. Its sales revenue increased last year 40.4% to 21.1 million euros and profit amounted to 1.9 million euros, which marks a year-on-year increase of 241%. The company targets 14% turnover growth in 2016.
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