Teraplast becomes majority shareholder of Politub, ousting French Socotub

Teraplast Group concluded an agreement for the purchase of the 50 percent stake held by French company Socotub in Politub, a press release informs. Until the moment of the agreement, Teraplast had 50 percent of Politub, one of the most important players on the market of water and gas pipes.

Following this acquisition Teraplast will owe 99.99 percent of Politub’s share capital, and TeraSteel will have 00.01 percent. The acquisition is part of the development and expansion plan of Teraplast Group.

“One of the main reasons for the acquisition was the Group’s wish to have a better control over the company, respectively to be able to implement decisions much faster, in accordance with the actual market requirements. Additionally, another important aspect is the fact that we intend to develop this products segment, which is complementary with the rest of the Group’s business lines,” Mirela Pop, Chief Executive Officer Teraplast stated.

The purchase of the stake is conditioned by the obtaining of the favorable approval of the Competition Council. Teraplast Group is developing an annual turnover of over RON 400 million.

The products portfolio of the Group is structured in six business lines: Installations & Decorations, Windows profiles, Compounds, Sandwich panels, Galvanized profiles and PVC windows and doors, and is on top positions on most of the markets on which is present. The parent company Teraplast is market leader in exterior sewage drains and compound and on the second position in interior sewage. The subsidiary, TeraSteel, is the second player on sandwich panels market and the leader of the galvanized steel structures market. In the same time, Depaco, 60 percent owned Teraplast is the second producer of metallic tiles on the Romanian market.

Politub manufactures tubes and pipes, of medium and high density for the transport and distribution networks of water, gas, and telecommunications, sewer or irrigation. Politub also produces fittings and segments of PE pipes and Polyethylene tubes with structured-walls (corrugated pipes). The polyethylene pipes plant of Politub has an annual production capacity of over 10,000 tones and is localized in Teraplast Industrial Park.