Tešanj's HIFA OIL acquired German company LB.Profile GmbH

Tešanj-based oil and petroleum products trading company HIFA OIL has acquired LB.Profile GmbH, a German company with the longest tradition in the production of profiles for doors and windows. The acquisition of the German company, known for its innovations in this field, followed after EURO ROAL – a subsidiary of HIFA OIL, established a strategic partnership in October last year for the distribution of high-quality LB.Profile systems in the market of Bosnia and Herzegovina, reports the BiH news agency Patria.

- Our first foreign strategic acquisition will enable EURO ROAL, as the leader in BiH for the distribution of aluminum, Inox, and now PVC profiles, to strengthen its position in the domestic market and to more strongly enter the markets of the region and the EU. This is our seventh subsidiary company and the first in Germany, which has been developing systems for doors and windows for over 50 years, with enormous competence, top-notch technology, and accumulated knowledge.

After this acquisition, nothing will be the same. Our goal is the domestic, regional, and European markets with a strong HIFA OIL and our technologically superior subsidiary companies. On this occasion, I would like to thank the teams of HIFA OIL and EURO ROAL, as well as the management of LB.Profile, who together, in a relatively short period, successfully completed this very demanding acquisition - said Izudin Ahmetlić, owner and director of the Tešanj-based company HIFA OIL.

LB.Profile is in excellent condition and is equipped with advanced technology that is the latest in the artificial profiles industry. Since 1960, they have been developing profile systems for a wide range of uses, primarily for doors and windows, as well as industrial profiles. They possess vast experience, knowledge, and advantages in the field of extrusion in various PVC profile systems. Based on their competence in production and work on extruders, they are capable of developing specific profiles at the request of customers with high parameters of reliability and functionality.

LB.Profile employs a total of 45 workers, and its facilities are located on 26,700 m2 of land in Herbstein, in the state of Hesse. Some of LB.Profile's competitive advantages include six developed systems for direct sealing on PVC profiles. They have 12 extruder lines, as well as automatic production lines. LB.Profile's main markets are Germany, Belgium, and the Netherlands; they also export to Eastern European countries such as Lithuania and Russia.

EURO ROAL employs 40 workers and is one of the leading distributors of aluminum and PVC profiles, Inox materials, and construction hardware. Last year, the company increased its revenue by 45% compared to 2015. The total sales of the aluminum range in 2016 amounted to 1,300 tons, while the quantitative sales for the Inox range amounted to 960 tons.

HIFA OIL is the leader in the trade of oil and petroleum products in BiH, with a 20% share in the domestic market of white petroleum products, and is also first in the distribution of black products in the domestic market and in the region for asphalt construction in Austria, Slovenia, Croatia, and other countries in the region. Last year ended with a total quantitative realization of about 300,000 tons of various derivatives in 9 countries of the region. Together with its subsidiaries EURO ROAL, EURO METALI, EURO STIL, EURO POWER, PETROBIT, BITROL Slovenia, and now LB.Profile, HIFA OIL employs a total of 257 workers.

In addition to this acquisition in Germany, new acquisitions are planned in 2017 in areas that will strengthen the market position of the subsidiary companies. Furthermore, HIFA OIL announces the modernization of the largest oil terminals in BiH, recertification according to the ISO 14001 standard related to ecology, as well as the construction of HIFA OIL-owned petrol stations, with the aim of further growth and development, and strengthening positions in the domestic, regional, and EU markets.