The board of directors of Teraplast (BVB: TRP) approved the establishment of a subsidiary in Hungary to serve as a logistic base for effective coverage of the local market.

Hungary has become the main export market of TeraPlast Group, surpassing Germany, and this evolution requires the adaptation of the distribution activity, the company explains in a note to investors.

"Exports continued to grow within the group's business, both in terms of value and weight, and after the first eight months of the year, they reached the level of RON 18 mln (EUR 3.6 mln), compared to RON 7 mln in the same period of the previous year. We support this external activity by opening a warehouse in Hungary, a centre that will allow us to manage better and efficiently respond to the demand in this dynamic market," said László Vajda, the company's development director.

The group owned a warehouse in Hungary before, specialized in the distribution of window profiles.

The facility was part of the sale of the window profiles business line to Dynamic Selling Group in 2021.

(Photo: Teraplast Facebook Page)

andrei@romania-insider.com