Dedeman’s Paval brothers buy Letea paper factory, plan to build stadium

Brothers Adrian and Dragos Paval, the owners of Dedeman, have agreed to buy the Letea paper factory in Bacau county from owner Sierra Quadrant, according to Ziarul de Bacau.

The Letea paper factory was established in 1879 and became the largest paper manufacturer in south-east Europe, on a land with a surface area of more than 40 hectares. It was privatised in 2003 and shut down shortly afterwards, then went into insolvency in 2011. A large part of the factory’s buildings have been demolished in recent years.

The amount the Paval brothers will pay for the factory has not been disclosed, but at the most recent auction in September 2017, the factory had a starting price of RON 43 million.

According to Ziarul de Bacau, the brothers are planning to build a football stadium that could be used for free by the Bacau City Hall.

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