July 24 (SeeNews) - Romanian plastic products manufacturer TeraPlast Group [BSE:TRP] said on Tuesday it sees 2018 sales of polyethylene pipes up 50% on the year to over 6 million linear metres.
TeraPlast sold 4.1 million linear meters of polyethylene pipe last year, mostly to builders and distributors, the group said in a press release.
"Although the local building materials market is going through a difficult period because of the lack of large infrastructure works, in the private sector things are on an upward trend. This positive trend is also reflected in our projections for this year," TeraPlast commercial director Ovidiu Gurau said.
TeraPlast's polyethylene product portfolio consists of pipes, injectors, fittings, electrically welded fittings, mechanical fittings, polyethylene valves and waterproof screens.
Starting July 2, TeraPlast has named Alexandru Stanean its new general manager.
In June, TeraPlast announced it has invested 3.5 million euro ($4.09 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 shares traded 1.96% higher at 0.3640 lei on the BVB as of 1224 CET on Friday.
(1 euro=4.6367 lei)