TeraPlast Group gains full ownership of Wetterbest

TeraPlast Group, the largest Romanian manufacturer of building materials, has reached a 100% stake in Wetterbest, one of the leaders of the local market for complete roof systems, as a result of the takeover of the last 1% stake. Thus, the TeraPlast Group is the sole shareholder of Wetterbest, the total investment in the 100% stake exceeding 17 million Euro.

The Wetterbest acquisition began in 2017, with TeraPlast holding the majority stake of 67% as of January 2018. In May 2019, TeraPlast’s participation in Wetterbest increased to 99%.

“Wetterbest has benefited from some of the largest investments in the TeraPlast Group in the last 3 years. With the new production unit and the acquisition of Cortina, for which we have recently received the favorable opinion from the Competition Council, we have identical conditions with the biggest players in Europe to reach our development goals for 2020,” said Marian Pîrvu, General Manager Wetterbest.

In September last year, Wetterbest took over Cortina WTB, a manufacturer and distributor of metal tiles in the Oltenia area. As a result of the transaction, Wetterbest increased its stake from 51% to 100% of the company’s capital. The transaction received a favorable opinion from the Competition Council.

Wetterbest has invested 8.4 million Euro in a new production facility, as part of an investment project started in the second half of 2018. The recently completed project will increase production capacity and optimize logistics and storage flows. The relocation is expected to be completed by the beginning of the 2020 season.