February 6 (SeeNews) - Romanian blue-chip PVC pipes and fittings manufacturer TeraPlast [BSE:TRP], the parent company of TeraPlast Group, said on Monday that it opened a 6,500 sq m warehouse in the southeastern county of Galati.
The warehouse serves as a logistics centre that facilitates supply and delivery to the counties of Galati, Braila, Tulcea, Vrancea and Constanta, TeraPlast said in a statement filed with the Bucharest Stock Exchange. The value of the investment was not disclosed.
“Through the new location in Galati, we will be closer to the customers of the Installations business line in the southeast of the country, faster in deliveries and more accessible,” Ovidiu Gurau, commercial director at TeraPlast, said.
The logistics centre will house products used in water system installations, natural gas and sewage, as well as interior and electrical installations, Gurau added.
TeraPlast currently owns seven distribution centres in Romania and runs a warehouse in Hungary.
On February 1, TeraPlast announced that in 2022, the group’s preliminary net profit fell 64% on the year, to some 15.4 million lei ($3.4 million/3.1 million euro), while its turnover increased by 11% to 711 million lei.
TeraPlast shares traded 0.67% lower at 0.5910 lei as at 0925 CET on Monday on the Bucharest bourse.
(1 euro=4.9005 lei)