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Teraplast to invest 22.6 million euros in business relocation

Teraplast plastics processor will be investing 66 million euros in developing its production facilities and expending business in 2008-2013, Teraplast Director General Ioan Viciu told a news conference on Friday.

'We have planned 66 million euros in investment for 2008-2013, 56 million euros of which will go into relocating production facilities to the village of Saratel, increasing output and developing new products, such as special foils and PVC panels. As much as 22.6 million will be the 2008 investment in relocating five out of the existing eight production facilities,' said Viciu. Teraplast's windows and terracotta factories will remain in Bistrita, while its factory for layered thermal insulation panels has already been relocated to Saratel. The company is contemplating expanding its business regionally in 2010-2013 and entering Serbia, Bulgaria, Hungary and Ukraine. 'Regional expansion in these areas may include acquisitions as well,' said Viciu. The company's officials also announced Teraplast will open two logistics centres in 2008, one each in Brasov and Bistrita. At Saratel, Teraplast will build a 22-ha industrial park. The company's factories have a total output capacity of 1.2 million sq.m. a year, but the management is expecting it to advance to 2.1 million sq.m. after the relocation process. Teraplast exported 7.8 percent of the materials manufactured by it in 2007, and it expecting exports to reach 10 percent of the total sales in 2008. 'The plastics output capacity is currently 47,000 tonnes a year, but it will increase to 100,000 tonnes,' said Viciu. The company also intends to open new production lines by 2010. The Bistrita-based Teraplast group of companies comprises Plastsistem and Politub, in which it owns a 70-percent and a 50-percent stake, respectively. Plastsistem is a manufacturer of layered panels for commercial and industrial structures, while Politub makes polyethylene pipes for gas and water networks. Teraplast also has a terracotta factory and a facility for plastics processing. The main supplier of raw materials to Teraplast is Oltchim, which provides 90 percent of the company's demand. The company posted a business turnover of 70 million euros in 2007, up 49 percent from the previous year, and is eyeing a 30-percent increase year-on-year in 2008. The company's turnover has tripled over the past three years. Teraplast will float a 25-percent stake in its shares on the Bucharest Stock Exchange. There are four principals shareholders in Teraplast: financial investment company SIF Crisana; Marley of Hungary, and two individual investors, all holding 94 percent of the shares. The company is employing 682 people. The average gross pay to the company's employees is RON 2,340 (1 euro = RON 3.65). Sursa: http://www.rompress.ro

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