An important business move marked the final stage towards full ownership between the TeraPlast Group and the Wetterbest company.
The Romanian plastic products manufacturer (TeraPlast Group) successfully completed the necessary steps to acquire the remaining 1% interest in Wetterbest, a local roof systems manufacturer.
The acquisition started back in 2017, with Teraplast owning 67% of Wetterbest in January 2018 and 99% in May 2019. Estimates show the entire process cost more than 17 million EUR.
On the same note, Wetterbest acquired a metallic roof tiles manufacturer and distributor (Cortina WTB), in 2019.
Wetterbest also benefited from an 8.4 million EUR investment in a new production facility, expected to increase the company’s production capacity, while also optimizing logistics and storage operations.
‘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 basis for us to achieve our 2020 objectives’, according to Wetterbest CEO, Marian Pîrvu.