The value of the deal is estimated at RON410 million but the final price will be adjusted by net debt and working capital.
Teraplast Bistrita owns 98.09% of TeraSteel and 99% of Wetterbest.
TeraPlast’s steel division generated RON578 million of the group’s consolidated turnover of RON973 million in 2019.
TeraPlast is 46% owned by businessman Dorel Goia.
Kingspan Group plc, the global leader in high performance insulation and building envelopes, is listed on Euronext Dublin and the London Stock Exchange. The group is already present in Romania with construction material manufacturer Joris Ide, which has a factory in Timis county.