European Commission approved the sale of TeraSteel and Wetterbest to Kingspan

by   CIJ News iDesk V
2021-01-13   15:07

The European Commission has approved the sale of TeraSteel and Wetterbest, part of Teraplast, to Kingspan, and to complete the transaction it is still necessary to receive the approval from the Commission for the Protection of Competition in Serbia. The group estimates that it will receive the approval for the Serbian company in mid-February. Subsequently, the value of the transaction will be established and paid, according to the company. Kingspan is already present in Romania with the construction materials producer Joris Ide, which has a factory on the local market in Buziaş, Timiş County.

Two other transactions of the TeraPlast Group are awaiting the approval from the Romanian Competition Council. These are the sale of TeraPlast SA's line of carpentry business profiles and the acquisition of the majority package of the flexible packaging manufacturer Somplast SA.