Kingspan | Romania Feed

TeraPlast Group has announced the closing of the transaction for the sale of the steel products division to Kingspan Group. On February 26, the shares of TeraPlast in TeraSteel Romania and Serbia, respectively Wetterbest, were transferred to Kingspan, at which point the transaction price of RON373 million was paid, per a stock market report.

Deloitte Romania advised TeraPlast Group, the largest Romanian producer of construction materials, in the sale of its steel division to the Irish group Kingspan, global leader in insulation and building envelope solutions, which was already present on the Romanian market. The transaction refers to the entire participation held by TeraPlast in the thermo-insulating panel factories TeraSteel in Romania and in Serbia, as well as in the metal tile producer Wetterbest. The agreement is subject to approval from the competition bodies. The value of the sold division has been assessed at 410 million lei, and the final price will be established after adjustments with the net debt and the working capital.