Romanian manufacturer of polystyrene and dry mortars, VeroTherm, intends to inaugurate its first logistics center outside the country, in the United Kingdom, aiming to expand the company’s operations into foreign markets. The new logistics center will be established in London, in the vicinity of Wembley Stadium and will serve as a sales and delivery point for VeroTherm products.
This initiative is undertaken in partnership with Essential Green Solutions Limited, led by business entrepreneurs Oves Jasat and Ionel Giuran.
The investment for setting up the logistics center will initially amount to 250,000 Euros, primarily directed towards creating a space that adheres to optimal operational standards.
“Our objectives of expanding beyond Romania remain a priority, and we believe that the UK market presents numerous business development opportunities for us. We closely monitor the industry in which we operate, and currently, in the UK, there are various incentives offered to homeowners for improving energy efficiency and reducing CO2 emissions. Amidst a rising demand in this market, coupled with purchasing power, we offer a competitive advantage in terms of pricing, quality, and delivery capability. We anticipate that the space will be operational at the beginning of next year, contingent upon the completion of the authorization process,” stated Vicențiu Mocanu, General Manager of VeroTherm.
The logistics center in London will exclusively feature VeroTherm-branded products, including various types of polystyrene, adhesives, aluminium profiles, primers, textured and washable paint, as well as other accessories.
For 2024, VeroTherm has allocated an investment of approximately 15 million euros, for the completion and opening of 3 new factories near Bucharest.
VeroTherm has been active in the local market since 1998. The factory in Râmnicu Vâlcea currently has a production capacity of 750,000 cubic meters of polystyrene and 100,000 tons of dry mortars annually. VeroTherm plans to double its production capacity with the opening of the new factories near Bucharest, planned for Q3 2024.
The company also operates within the residential segment. VeroTherm embarked on the VeroTherm Villas residential project in Craiova a few years ago, with an investment reaching 40 million euros.