English"Teraplast" Bistriţa, specializing in the production of construction materials, and Serbian company "Ferrodil", intend to set up a joint venture allowing "Teraplast" to open a warehouse in the former Yugoslavian region and to sell its products in the region.
In a press release posted on the company"s website, the exports director of the company, Larisa Popovici said that the goal of the joint venture is to seize the opportunities of these markets. Teraplast will own 50% of the partnership, while the Serbian company will own the remaining 50%. A decision on this matter will be made on April 29th, during the General Meeting of the Shareholders.
"Teraplast" is part of the eponymous group based in Bistriţa, which includes Plastsistem and Politub. "Teraplast" is the largest PVC processor in Romania, Plastsistem manufactures sandwich panels and metallic structures for commercial and industrial construction, and Politub manufactures polyethylene tubes for the gas and water grids.
In 2009, "Teraplast" had a net profit of 11.42 million lei, down 41% YOY from 19.32 million lei. The company"s turnover dropped from approximately 195 million lei in 2008 to 190.5 million lei.
The company is controlled by businessmen Dorel Goia and Emanoil Viciu, who own 34.2%, and 15.1% of the company"s share capital, respectively. SIF Banat-Crişana (SIF1) is also a significant shareholder, which controls 11.3% of the company.
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