TeraPlast Group: Wetterbest takes over Cortina WTB - Wetterbest

TeraPlast Group: Wetterbest takes over Cortina WTB

Dorel Goia Presedintele Consiliului de Administratie

Bistrita, September 16, 2019

Wetterbest, one of the leaders on the local roof systems market and part of TeraPlast Group, the largest Romanian producer of construction materials, came to an agreement to fully take over Cortina WTB, metallic roof tiles producer and distributor in the Oltenia area. Following the transaction, Wetterbest raised its equity in the company from 51% to 100%. The transaction will be completed after the favorable notice from the Competition Council.

 „The acquisition of Cortina WTB is part of the TeraPlast Group’s development process. Wetterbest is one of the companies that contribute most to the Group’s revenue and through this acquisition we sustain our plans of consolidating and expanding our distribution network and client portfolio on both local and regional markets”, said Mr. Dorel Goia, Chairman of the Board of Directors of TeraPlast.

Cortina WTB, located in Podari, Dolj county, is one of the most important metallic roof tiles producers and distributors in the South-Western area. The factory produces the Classic roof tiles profile, W8 self-supporting trapezoidal sheet and flat metal sheet. Its production capacity is surpasses 1,5 million square meters annually.

Wetterbest is the second largest producer on the roof systems market in Romania, both quantitative and value. At present, the production takes place on 40 automated production and packaging lines in three locations: Baicoi (Prahova), Podari (Dolj) and Saratel (Bistrita Nasaud).

This investment adds to the 8,4 million euros one aimed to extend the production capacity and relocate the factory in Baicoi.

In the first half of 2019, Wetterbest increased its revenue by 28%, up to 105 million lei compared to 82 million lei in the first half of 2018. The company’s profitability increased by 22% compared to the same period of last year, EBITDA surpassing 5 million lei.

The Wetterbest products and present in the most DIY stores and in the three showrooms in Cluj, Timisoara and Brasov.

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 (Depaco), 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.