M&A alert. Teraplast group becomes majority shareholder of Politub

Teraplast group, one of the most important PVC operator from Romania, becomes majority shareholder of Politub, with 99.99 percent of the capital, after signing a contract on August 3 with New Socotub S.A, France, to acquire 50 percent of the social capital of subsidiary Politub.

Mirela Pop, general director Teraplast, said: “One of the main reasons of this decision was the plan of the group to have a better control on the company, to implement the management decisions faster and more efficient, to comply with the current demands of the market. Also, another important factor is the development of this products segment.”

Teraplast representatives say that this acquisition is part of the investments plan of the group, as Politub is becomign a key player on the water and gas piping market. In 2016, the company recorded a turnover of RON 49 million and a net profit of RON 1.75 million.