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The sale of TeraSteel and Wetterbest received the agreement from the competition authority of the European Commission

The European Commission agreed on 12th January the sale trading of TeraSteel and Wetterbest to Kingspan Group. The TeraPlast group, the biggest Romanian producer of construction materials, announced in July 2020 that he signed an agreement with the Irish from Kingspan Group for the sale of the Steel division, estimated at 410 million lei.

 

The European Commission agreed on 12th January with the sale trading of TeraSteel and Wetterbest to Kingspan Group.The TeraPlast Group was informed of this approval by the lawyers who dealt with the notification of the trading. For the finalisation of the trading there is needed the agreement on the part of the Commission for the Protection of Competition from Serbia. The Group estimates that they will have this agreement at mid-February’ the  group informs

 

After receiving the agreement on the part of Serbian authorities will be established and paid the value of the trading.

 

In 24th July 2020, the Group TeraPlast announced the sale of the division Steel to Kingspan Group. The division Steel of the group includes business lines operated through TeraSteel SA (Romania), TeraSteeel D.O.O. (Serbia) and Wetterbest SA (Romania).

 

Another two tradings of the Group TeraPlast expects the agreement from the Competition Council in Romania. They refer to the sale of the business line carpentry profiles of TeraPlast SA, namely the acquisition of the majority package of the producer of flexible wrappings Somplast SA.

 

Starting with 2nd July 2008, TeraPlast SA, the parent company of the TeraPlast Group, has been listed on the Stock Exchange Bucuresti under the symbol TRP. The shares of the company are included in the reference indicator of the Stock Exchange Bucuresti –BET – and starting with September 2020, in indicators TotalCap and MicroCap of FTSE Russell.

 

The TeraPlast recorded in the fist nine months a net profit growing by almost 79% of 60,28 million lei, and a turnover of 816.2 million lei,higher by 14% against the similar period of 2019.

 

Similarly, EBITDA was 99.1 million lei in the first nine months, up by 46% as compared to the same period of last year.

 

 

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