June 29 (SeeNews) - Romanian plastic products manufacturer TeraPlast Group [BSE:TRP] said on Friday it has named Alexandru Stanean its new general manager starting July 2.
Stanean will replace Mirela Pop, who has served in this position since May 2017, the group said in a statement filed with the Bucharest Stock Exchance, BVB.
“Our company has radically transformed during the last year due to the acquisitions we made. This is why our main priority is to integrate the subsidiaries’ activities into using the synergies existing in the group without neglecting the ongoing profitability of the operational processes and also to continue our national and international expansion, in order to increase the group’s sales and profitability,” Stanean said.
Earlier this month, TeraPlast announced it has invested 3.5 million euro ($4.04 million) in the transformation of a raw materials storehouse into a PVC waste collection and recycling station.
TeraPlast posted a loss of 1.07 million lei ($265,000/ 220,000 euro) in the first quarter, compared to a net profit of 1.65 million lei in the same period of 2017.
TeraPlast's turnover almost doubled year-on-year to 131 million lei in January- March.The main contributors to this increase were the businesses that joined the group's portfolio in 2017: Depaco - Wetterbest, a sandwich panel factory in Serbia and the Politub business.
TeraPlast shares traded 2.78% lower at 0.35 lei on the BVB as of 1257 CET on Friday.
(1 euro=4.6611 lei)