Romanian PVC processor Teraplast Bistrita has applied for a state aid of over EUR 14.7 million.

The company wants to buy new equipment and build new production halls in the Teraplast industrial park in Bistrita-Nasaud, north of Romania.

The company posted a turnover of over EUR 43 million in the first six months of the year, up 17.4% over the same period in 2015. The net profit amounted to EUR 4.3 million, up 52% year-on-year.

Romanian investor Dorel Goia has a 46.7% stake in the company. Teraplast is listed on the Bucharest Stock Exchange. Its market capitalization amounts to around EUR 57 million.

editor@romania-insider.com

(photo source: Teraplast.ro)