Bistrita, Romania — Romanian PVC processor and construction component maker Teraplast has acquired the assets of Serbia’s polyurethane composite sandwich insulation producer Interlemind.
Teraplast group, is reported to have paid EUR 4.3 m to acquire the Interlemind production plant and equipment at Leskovac in southern Serbia from bankruptcy.
The buyer, which operates the sandwich panel offshoot, TeraSteel, said it is investing EUR 11m in Serbia this year, including the plant purchase. The planned spend includes EUR 4 m working capital plus EUR 2.7 m to develop the new business unit.
Interlemind, formerly owned by a Bulgarian entrepreneur, has a capacity similar to that of TeraSteel. Each can manufacture 2.2 million m2/year of sandwich panels made of steel-encased polyurethane foam PUR or PIR. Each company is similarly equipped.
“TeraSteel has been exporting to Serbia, Bulgaria, Montenegro and Slovenia for about two years, and we are planning to exponentially increase sales in the Balkans area through the Leskovac plant,” explained Dorel Goia, Teraplast group chairman.
Under Teraplast, the Leskovac plant will export sandwich panels to Bulgaria, Macedonia, Bosnia, Croatia and Montenegro as well as serving Serbia itself. It will also supply secondary markets in southern Romania, Hungary and northern Greece, according to the buyer.
Teraplast group also produces PVC window and door profiles, vinyl windows and doors, polyethylene pipe, fittings and rotational moulded drainage manhole covers.