Terracotta tiles manufacturer Teraplast has completed the relocation of its production lines from Bistrita to Saratel industrial park, which represented a total investment of €26 million.
The investments include the infrastructure works, the new production plants construction, the technological equipment of the factories, either by moving the production lines from Bistrita or by new production line purchasing, and also the construction of the logistics and warehousing spaces.
“The finalization of the production capacities relocation is extremely important, because it was one of the main commitments made by the company to its investors, when Teraplast was listed to the Bucharest Stock Exchange. The fact that we managed to fulfill out promises despite the unfavorable economic climate, substantiates once more that Teraplast is a very solid company that can cope well with the market challenges”, said Florin Urite, CEO Teraplast.
The company is currently running a stock buy-back program for 1.5% of its common stock, through BT Securities. The manufacturer announced its plans to lift 25% ceiling on daily stock trade volume to 50%, on weak liquidity at the equity market.
The industrial park from Saratel has a gross area of 200,000 sqm of which 143,500 are owned by Teraplast, and approximately 29,000 sqm, by Plastsistem, and the remaining 27.500 sqm to Politub, affiliate of Teraplast.
Teraplast’s production capacities stretch on 13,000 sqm and are divided between PVC products factory (PVC pipes, profiles, window PVC profiles and a mixing plant), and the polyolefins factory (PE manholes, and tanks, corrugated pipes, PVC, PP, PE fittings and PP pipes).
“Most of these production facilities were relocated from Bistrita, excepting corrugate pipes, PE manholes and tanks, which are new products developed by Terasplast after a thorough analysis o
