Teraplast will thus reach 99.99% stake in Politub and Terasteel will own the remaining 0.01%, the company said Friday.
Politub manufactures water and gas pipelines. It had a turnover pf RON49 million in 2016 and a net profit of RON1.75 million.
The deal is subject to antitrust clearance.
Teraplast Group has an annual turnover of RON400 million. It is one of the main manufacturers for the construction and installation sector and includes Teraplast, subsidiaries TeraSteel and Terasteel Serbia, Teraglass, Teraplast Logistic and Teraplast Hungary. Besides Politub, it also owns 60% in roofing shingle manufacturer Depaco.
Politub has a factory that makes over 10,000 tons of pipeline in the Teraplast Bistrita industrial park.