Bistrita-Nasaud, Romania — Sales at Romanian PU and PIR sandwich panel maker TeraSteel grew to RON 262m (EUR 55.4m) in 2018. A 53% increase in exports drove the increase, according to company representatives.
In October 2017, the manufacturer opened a new plant in Leskovac, Serbia. Since then, it has invested about EUR 6m in the factory. This led to the company’s increased exports last year.
The facility in Leskovac has capacity for 2.2m m2/year sandwich panels. This is close to the capacity of the firm’s other plant in Bistrița-Nasaud, Romania, according to managing director Cosmin Patroiu. He was talking to local business daily Ziarul Financiar.
The Leskovac factory makes thermal insulation panels for Serbia, and exports to several European countries. These include Germany, Hungary, Romania, Bulgaria, Croatia, Bosnia and Herzegovina, Albania, North Macedonia and Montenegro. Serbia, Bulgaria and Hungary are company's the three largest markets, according to Patroiu.
The company said that Serbian labour costs are rising by around 10%/year. However, it is still profitable to locate production facilities in the country.
TeraSteel is a subsidiary of Romania’s TeraPlast group. The holding’s largest company, plastic products maker TeraPlast, is listed on the Bucharest Stock Exchange.
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