The initial price of RON3.67 million was adjusted based on the value of stocks on August 31, 2021. The payment will be made within five working days from the signing of the contract.
The transfer of activity related to the plastic wrap business includes the transfer of the ownership right on the raw material stocks and finished products related to the plastic warp business existing at the date of the transfer, as well as of the fixed means used in the plastic wrap manufacturing activity.
Somplast Nasaud is 70.8% held by TeraPlast Bistrita, the largest Romanian-held building materials producer, after regional investment fund SIF Banat-Crisana (SIF1.RO) had sold its ownership stake, for RON4.9 million, at the end of 2020.
In April 2021, TeraPlast representatives said the company was implementing an investment of EUR12 million, co-financed via a state aid scheme, for the construction of a biodegradable warp factory in the industrial park in Saratel.
Together with the acquisition of Somplast, TeraPlast’s investment in the flexible packaging business exceeds EUR13 million. Romania’s flexible packaging market amounts to EUR300 million, with imports accounting for 47% of the market.
Somplast Nasaud has a stock market capitalization of RON14.6 million. Over the last year, SOPL shares have decreased by 10%, amid deals worth RON4.9 million, per stock market data.
TeraPlast Bistrita is valued by stock market investors at RON2.3 billion after its shares have surged nearly 200% in 2021, amid deals worth RON407 million.