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One of the largest plastics processors in the region has arrived in Hungary, writes Világgazdaság. With the acquisition of the Wolfgang Freiler Group, the Romanian TeraPlast now has two plants in the country producing materials essential for the delivery of drinking water.
The parent company of the TeraPlast group, based in Bistrița (Beszterce, Romania), was founded 130 years ago by a Transylvanian tile stove manufacturer and has become the largest plastics processor in the eastern region of the European Union. The group operates in Romania, Moldova, Austria, and Hungary with 1,100 employees. It has 13 modern factories in Eastern Europe and exports its products to 22 European countries. TeraPlast has been listed on the Bucharest Stock Exchange for 16 years.
TeraPlast manufactures utility and building products, PVC granulate, flexible packaging, and window and door frames, including by recycling rigid PVC waste.
The group supplies the Hungarian market with utility and building products.
TeraPlast Group acquired the Wolfgang Freiler Group from the Austrian UHL family for EUR 16.53 million in February. The group had a turnover of EUR 25 million last year and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of EUR 2.3 million.
Wolfgang Freiler has a strong market position in Hungary, Austria, Germany, and France, which was one of the driving forces behind the acquisition.
The TeraPlast Hungary subsidiary was established one and a half years ago and since spring, it has production units in the country in Fertőszentmiklós (northwestern Hungary) and Nagykanizsa (southwestern Hungary).
Together with the employees at these sites and Wolfgang Freiler’s other distribution units in Central and Western Europe, a total of 144 employees and 147,000 square meters of production space have been transferred to TeraPlast.
According to Ivan Bogdan-Gruia, Romanian Minister of Research, Innovation and Digitization,
the presence in the Hungarian market is important not only for TeraPlast but also for Romania, and the two countries are forming an ever closer alliance through economic interconnections.
Joining the Minister, Romanian Ambassador Gabriel-Cătălin Șopandă called the acquisition an important moment in the history of Romanian-Hungarian relations.
The Wolfgang Freiler Group distributes its products mainly in France, Germany, and Slovakia, and has production units in Hungary at Pro-Moulding in Nagykanizsa and Polytech in Fertőszentmiklós. At the Polytech plant, conduits are manufactured from more than 80 percent recycled materials, and 90 percent of the products are made for export. Pro-Moulding is a plastic injection molding company specializing in the production of electronic equipment, agricultural machinery, and car parts.
Conduits at the Fertőszentmiklós plant. Photo via Facebook/Polytech Kft
Via Világgazdaság; Featured image via Facebook/TeraPlast