TeraPlast Group, the largest Romanian construction materials manufacturer, reached 100% stake in Wetterbest – one of the local leaders in complete roof systems – following the takeover of the last 1% block of shares. This makes TeraPlast Group the sole shareholder of Wetterbest. The total investment for the Group’s stake in the company exceeds 17 million euros.
The acquisition of Wetterbest began in 2017. Starting January 2018, TeraPlast’s stake in the company was 67%. In May 2019, TeraPlast increased its stake in Wetterbest to 99%.
„Wetterbest benefited from one of the largest investment projects of the TeraPlast Group in the last 3 years. The new production unit, together with the acquisition of Cortina, which was approved by the Competition Council, represent advantages that the main European players enjoy. This is the base for us to achieve our 2020 objectives” said Mr Marian Pîrvu, CEO of Wetterbest.
In September 2019, Wetterbest has taken over Cortina WTB – metallic roof tiles producer and distributor for the Oltenia area. Following the transaction, Wetterbest increased its stake from 51% to 100% of the company’s capital. The Competition Council approved the transaction.
Wetterbest invested 8,4 million euros in a new production facility as part of an investment project started in the second half of 2018. The recently-finalised project will help increase of the production capacity and optimise the logistics and storage processes/workflows. The relocation will be finalised by the start of the 2020 season.
During the first nine months of last year, Wetterbest increased its turnover by 22%, up to 202 million lei, while its EBITDA rose by 10%, up to over 13,5 million lei.
About TeraPlast Group
With a tradition of over 120 years, the TeraPlast Group is currently the largest Romanian construction materials producer. The Group comprises of the following companies: TeraPlast, TeraSteel Romania & Serbia, Wetterbest, TeraGlass, TeraPlast Hungary. Starting with April 2019, the recycling business has been spun off in the independent company TeraPlast Recycling.
Since the 2nd of July, 2008, the largest company of the Group – TeraPlast SA – is listed at the Bucharest Stock Exchange under the TRP symbol. TeraPlast’s shares are included in the following indexes: BET-BK, BET-XT, BET-XT-TR and BET-Plus.