Teraplast swells investments by 3.7 million euros

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Teraplast Bistrita group (northern Romania) which includes Teraplast, Plastsistem and Politub will increase this year by 3.7 million euros the investments allotted to the expansion of production capacities, up to 24.8 million euros, according to the project amending investments propped for approval to the General Shareholders Assembly (AGA) that will take place on September 16.
 
The investments scheduled for this year are part of a sweeper programme spanning until 2013 and which triggers total investments of 66 million euros in the relocation and increase of production facilities. The group also aims to expand at regional level, over 2010-2010 through acquisitions or direct investments in Serbia, Bulgaria, Ukraine and Hungary, Ziarul Financiar reports.
 
The group will relocate five of the eight production units in an industrial park, situated at some 10 km of Bistrita. The projects will cover an area of 20 hectares, where the group plans to build 2 plants.
The group reported in H1 this year a turnover of 117.4 million lei (32 million euros), up 26%, and a net profit of 10.65 million lei (2.96 million euros), up 23% higher than in the same period of 2007.
 
The producer of construction materials Teraplast Bistrita reported in H1, 2008 revenues worth 99.8 million lei (27.80 million euros), up 15% as against the same period of the pr eviousyear and a steady net profit, of some 9 million lei (2.50 million euros). At the same time, the company reported spending of some 89.2 million lei (24.84 million euros), up 17% as against the period of the previous year. The company’s business reached 92.2 million lei (25.68 million euros), up 12%.
 
Over the past month, Teraplast shares reported a significant comeback advancing 35% after the company carried the financial results for H1 on August 15. On September 10, the capitalization of Teraplast amounted to 59.6 million euros.
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