TARK transaction team advised the merger of two Estonian building materials market leaders – Paekivitoodete Tehas and Saare Dolomiit-Väokivi.
Saare Dolomiit-Väokivi has been the largest producer of natural decorative stone in Estonia which is mainly made of materials from their Saaremaa dolomite mine. Paekivitoodete Tehas has been the largest producer of limestone fragments in Estonia for many years.
The merged entity, Limestone Factories of Estonia, will be able to value limestone to the largest extent. A new plant is planned to be built in Väo quarry to produce for the Scandinavian market. Production is also planned to reach other parts of Europe and, in the long run, North America.