TeraPlast Group inaugurated its TeraPlast Iberia polyethylene pipe factory in Spain, a firm and important step in its development strategy aiming the European markets. Thanks to the plant's strategic location, the Group will be ideally positioned to serve customers across Western Europe and North Africa.
The inauguration ceremony was attended by representatives of TeraPlast Group management, alongside Her Majesty Margareta Custodian of the Romanian Crown, His Royal Highness Prince Radu of Romania, Her Excellency Raluca Mihăilă, Chargé d'Affaires a.i. at the Romanian Embassy in the Kingdom of Spain, Mrs. Bianca Gavriliță, General Consul of Romania in Bilbao, Mr. Bogdan-Gruia Ivan, Member of the Romanian Parliament, Mr. Emil Boc, Mayor of Cluj-Napoca, Mr. Gabriel Lazany, Mayor of Bistrița, as well as Spanish public officials, respectively Mrs. Saray Zárate Fernández de Landa, Provincial Deputy of Development and Innovation of Álava, Mr. Andoitz Korta Zearreta, Deputy Advisor for Industrial Promotion of the Basque Government Council and Mr. Jon Escuza del Campo, Mayor of Okondo, where the TeraPlast Iberia factory is located. Their presence highlighted the strong institutional support for Romanian investment, the importance of industrial development within the European Union Single Market, and the continued strengthening of bilateral relations between Romania and Spain.
”Romanian industry can compete and thrive at European level, and we demonstrate it through actions, not idealistic speeches. Following our expansion into the Republic of Moldova, Hungary, Austria and Croatia, our entry into the Spanish market marks another important step in our international growth strategy, once again proving that we do not waste time but move forward with vision, determination and confidence across Europe.
Now that the acquisition has been completed, we are launching the integration and consolidation process. Through investments of EUR 4 million, we aim to increase production by 60% over the next three years and achieve an EBITDA margin of more than 10%. The expanded production capacity will serve the markets of Spain, France and North Africa. This will enable us to reduce leverage while generating returns on our investment for the benefit of the Group's shareholders.” stated Mr. Dorel Goia, Chairman of the TeraPlast Board of Directors.
The TeraPlast Iberia factory is located in Okondo, in the province of Álava, Northern Spain, approximately 20 kilometers from Bilbao, and has an annual production capacity of 16.000 tonnes. With a team of 79 employees and a solid customer base in Spain, France and Germany, the factory will serve as a strategic hub for the expansion of TeraPlast's operations in Western Europe and further strengthen the Group's international presence.
