Teraplast group, the biggest PVC processor in Romania and one of the biggest local manufacturers of construction materials and installations, opened a sandwich panel factory in Serbia, on October 11. This is the first 100% owned Romanian factory opened abroad after 1990, according to the group.

Teraplast has invested some EUR 11 million in the TeraSteel Serbia factory, including EUR 4.3 million for the purchase of an old factory in Serbia, EUR 2.7 million in equipping it with new production lines, and EUR 4 million in work capital.

TeraSteel Serbia has a production capacity of 2.2 million sqm of sandwich panels per year, similar to the group’s factory in Bistrita, Romania. The factory will deliver its products in the Balkans, namely in Serbia, Bulgaria, Macedonia, Bosnia, Croatia, Montenegro, as well as in Hungary, southern Romania, and northern Greece.

The group estimates a EUR 28 million turnover for its Serbian subsidiary in 2018, according to local investor Dorel Goia, who owns 45% of Teraplast.

Teraplast group produces PVC profiles, Pipes, as well as sandwich panels and steel roof tiles. The group had a turnover of over EUR 37 million in the first half of this year.

The group’s shares are trading on the Bucharest Stock Exchange, where the company has a market value of EUR 80 million.

editor@romania-insider.com