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TeraPlast requests state aid for 50% of a 7.9 million euro investment project

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TeraPlast, a PVC pipe manufacturer wants to purchase performing equipment and raise new constructions, as part of a 7.9 million euro project for which it requested 50% state aid.

 

The overall value of the project is 7.9 million euros, of which 50% state aid.

The project has in view the extension of manufacture capacity of the Installation business line, the portfolio of pipes and fittings. The implementation of the project will be completed in April 2022 and 45 jobs will be created.

 

In 2018, TeraPlast received financing accords through state aid for three investment projects at Wetterbest, TeraPlast and TeraGlass. The total value of investments was over 13 million euros to extend production capacities. For the three projects the group received 6.3 million euros as state aid.

 

From its own sources and the project partially financed by state aid, Wetterbest reached 9.4 million euros. So, in March the company inaugurated the new factory with a production capacity of 10 million square meters of metal tiles annually.

TeraPlast extended its production capacity of PP pipes for interior sewerage.

 

TeraGlass extended its production capacity but following the investment the factory is equipped with state of the art German technology.

In the first semester of 2020, TeraPlast recorded a business figure of 108 million euros, on the rise by 17% against the first semester of 2019. In the same period, the Group's efficiency went up by 49%, EBITDA reaching 11 million euros.

 

With a tradition of over 120 years, TeraPlast is now the largest Romanian manufacturer of building materials. The group is made of the companies: TeraPlast, TeraSteel Romania and Serbia, Wetterbest, TeraGlass, TeraPlast Recycling and TeraPlast Hungary. As of July 2, 2008, the largest company in the group – TeraPlast SA has been quoted at Bucharest Stock Exchange under the symbol TRP.

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