The Teraplast Group, the biggest PVC processor in Romania, has opened TerraSteel Serbia, the first Romanian factory opened abroad since 1990. The factory, which opened on 11 October in Leskovac, specialises in sandwich panels.
“Expanding the activity of the Teraplast Group in Serbia, with the opening of the Leskovac factory, is a new step in our process of development, in line with the group’s long-term objectives. In 2018, for TeraSteel Serbia, we aim at sales of around EUR 28 million, and in what regards the markets we serve, most panels made by the factory will go towards the Serbian market, but also towards exports in the Balkans,” Dorel Goia, president of the Teraplast council of administration said.
The Serbia factory has a production capacity similar to that of the TeraSteel Bistrita subsidiary, one of the leaders of the market of the sandwich panels, meaning 2.2 million square meters per year as well as similar equipment. The nee factory will serve markets in Serbia, Bulgaria, Macedonia, Bosnia, Croatia and Montenegro, as well as secondary markets such as Hungary, southern Romania and northern Greece. The sandwich panels are used to make industrial buildings such as halls, warehouses, commercial centres and more.
“Leskovac showed again that it is an appropriate city to attract investments, proof that our friends in Romania chose to open a factory here. A happy investor will always attract other potential investors, that is why we will ensure that TeraSteel will benefit from all conditions necessary to run the activity in our city,” Goran Cvetanovic, mayor of Leskovac said.
The factory will receive EUR 2.7 million investment for development and a working capital of EUR 4 million.
In 2017, the Teraplast Group bought with EUR 4.3 million Serbia-based sandwich panels maker Interlemind.