TeraPlast group, one of the biggest construction material producers in Romania, has increased its stake in metallic roof tile manufacturer Depaco by 32% to reach a 99% stake.

Following the contract concluded on May 10, TeraPlast’s total investment in Depaco will exceed EUR 17 million. The EUR  5.1 million additional investment, representing the cost of the 32% stake, will be settled by December 2020.

“The acquisition is part of the TeraPlast Group’s policy of strengthening its stakes in its subsidiaries. The evolution of our business since the entry into the TeraPlast Group has so far confirmed the confidence we had and we still have in the company’s potential and in the opportunities that the EUR 300 million roofing market can offer,” said Dorel Goia, chairman of TeraPlast’s Board of Directors and the group’s biggest shareholder.

TeraPlast took over 67% of Depaco in January 2018, and with the current 32% stake in the company, it has reached 99% ownership.

The TeraPlast Group includes TeraPlast, TeraSteel Romania and Serbia, Wetterbest (Depaco), TeraGlass, TeraPlast Hungary, and TeraPlast Recycling.

editor@romania-insider.com

(Photo source: the company)