The transaction includes all assets, equipment and plot linked to the ceramic tile segment.
“The sale or outsourcing of activities adjacent to Teraplast’s core business is part of the efficiency strategy,” said Stefan Bucataru, the company’s general manager.
Payment will be performed in two installments. The first payment, worth EUR105,000, will be transferred by January 15, 2012, while the second payment, worth EUR900,000, will be delivered in 60 monthly transfers worth EUR15,000.
Teraplast’s turnover rose 2.3% on the year in the first nine months, to 164.3 million lei (EUR38 million). At the same time, the company posted a loss of RON6.9 million, compared to a net profit of RON6.3 million in the same interval last year.
Shareholders of Teraplast include Dorel Goia (34.2%), SIF Banat-Crisana (SIF1.RO) – 11% and Emanoil Viciu – 10.1%. (EUR1=RON4.3125)