BUCHAREST (Romania), March 30 (SeeNews) - Romanian plastic products maker Teraplast [BSE:TRP] said on Wednesday it sees its non-consolidated net profit up 27% to 10 million euro ($11.1 million euro) in 2016.
Teraplast also aims at a turnover of 106.3 million euro in 2016, up 20% from last year, on the back of sewerage and water supply infrastructure projects, it said in a bourse filing.
In 2015, Teraplast posted a net profit of 7.9 million euro, up an impressive 121% from 2014, and a consolidated turnover of 88.5 million euro, up 20% from previous year.
Teraplast was founded in 1896 in Bistrita, in northern Romania, as a ceramic tiles manufacturing unit.
In 1999,Teraplast acquired a 50% stake in plastic pipes manufacturer Politub, and in 2007 it became the main shareholder with a stake of 70.42% in insulation panel producer Plastsistem, which was later reorganized to manufacture sandwich panels with polyurethane foam core.
Along Teraplast SA, both companies are now part of the Teraplast group, whose facilities are located in the Teraplast Industrial Park, outside Bistrita, and cover an area of over 200,000 sq m.
In 2008, it was listed on the Bucharest Stock Exchange.
($ = 0.8932 euro)