BUCHAREST (Romania), July 20 (SeeNews) – Romanian building materials trader MAMbricolaj [BSE:MAM] said it signed a € 1.26 million ($ 1.48 million) lease for commercial space in Brasov, where a new store is scheduled to open.
The lease signed with local company Brintex is valid until October 31, 2031, MAMbricolaj said in a statement filed with the Bucharest Stock Exchange on Monday.
The company plans to open a new store on an area of 1,500 m² in the Bartolomeu industrial park in the city of Brasov.
Founded in 2011, MAM Bricolaj operates three branches in Bucharest and an online shop.
In May, the company announced that it was targeting annual sales growth of 70% to 70.6 million lei ($ 17.5 million) this year. MAMBricolaj based its optimistic financial forecasts on expansion plans for 2021, it said at the time. In addition to Brasov, MAMbricolaj plans to open new stores in Bucharest and Iasi, it added.
The MAM Bricolaj share was traded on Tuesday at 0921 CET on the AeRO market of the Bucharest Stock Exchange, 2.39% higher than 59.9 lei.
(1 euro = 4.9262 lei)