In September 2019, Wetterbest, one of the leading players on the local roof systems industry and part of TeraPlast Group held by businessman Dorel Goia, reached an agreement to fully acquire Cortina WTB, a metallic tile producer and distributor in the region of Oltenia.
Following the transaction, Wetterbest increased its ownership in the company to 100% from 51%.
Cortina WTB is one of the leading metallic tile producers and distributors in the country’s south-west region.
Wetterbest operates in the field of manufacturing and selling metallic tile coating systems, rainwater drainage systems and cut board.
The antitrust watchdog assessed the economic concentration operation in terms of its compatibility with the normal competitive environment and found it poses no significant obstacles in terms of actual competition on the Romanian market, or on a significant part of it.
“The acquisition of Cortina WTB is part of the development process of TeraPlast Group. Wetterbest is one of the companies significantly contributing to the group’s turnover and, with this acquisition, we support the consolidation and expansion plans of the distribution network and the customer portfolio, both locally and regionally”, Dorel Goia, Chairman of TeraPlast Board of Directors, said when the transaction was announced.