The decision was made by the TeraPlast board of directors on June 26.
“TeraPlast Group has undergone deep transformation during the last two years through the investments made with the help of state funds. Wetterbest has opened a new production plant, and TeraGlass and TeraPlast have increased their production capacity and at the same time have diversified their product portfolio. Now is the time to gather the fruits of our investments so far and conceive new development projects that would bring added value to our shareholders and partners,” said Stanean.
For the first quarter of 2020, TeraPlast Group estimates a turnover of RON 478 million and an EBITDA of RON47 million. For the plastics division, which also includes TeraPlast Bistrita, the turnover is estimated at RON213 million, 18% higher on the year. Moreover, the plastics division is estimated to have turned a profit of RON27 million in the first quarter of 2020, up 54% on the year.