Macedonia's third largest construction company Transmet is open to the idea of getting an investor into the company and is also looking for joint venture partners, the company's general manager told EMIS.
“We would be interested [in finding a strategic or financial investor]. That could allow us to double the business,” Sead Kocan said in an interview.
Transmet is a family-owned company, controlled by the founder's sons Sead, Seid and Din Kocan.
“All options are open, but it all depends on what are the interests and appetites of the larger companies that would like to enter the Macedonian market,” the executive noted.
The company has not had any talks on the potential entrance of an investor into its capital structure, but joint venture talks are ongoing.
“Talks are held predominantly on the joint venture topic. There are no strong companies in the region that might buy our firm. However, we are working on some cooperation contracts and joint ventures. We have already carried out several projects with companies from Bosnia and Herzegovina and Serbia,” Kocan explained.
Transmet is currently working on projects worth some EUR 200mn and is hoping to be involved in concessions for new road corridors in Macedonia. The company is working on a stretch of the Kicevo-Ohrid highway together with Bosnian firm Fering and hopes to attract another joint venture partner for the project.
“We are working with Fering on this EUR 98mn project. They are specialised in bridge construction, but we also need companies that have experience in the area of tunnel construction. For the last 20 years, there have been no such projects in Macedonia and that sector simply died away. So, that is the area where we see potential for some cooperation with companies from the region.”
Transmet, which employs 500 people, posted EUR 25mn in revenues in 2014.