Prefabricated House Maker Lumar Integrated in Green Building Group

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.