Romanian plastics manufacturer Teraplast SA has unveiled plans to invest 1.3 million euros ($1.7 million) this year to expand its output capacity and launch new products.
The announcement accompanies the release of the company's financial results for the first half of 2014, in which Teraplast managed to double its net profit to about 1.5 million Romanian new leus ($450,000). This was achieved despite a decrease reported in the firm's sales.
"In the first half of this year, we delayed some of the investments," Traian Simion, the company's director general, told local daily Adevarul.
From January to June 2014, the company invested some 850,000 euros ($1.1 million) to purchase new machines and develop new products at its plant in Saratel. In the second half of this year, Teraplast is aiming to invest a further 450,000 euros ($593,000).
Teraplast Group claims to be the largest PVC processor in the Romanian market, and operates five production facilities. The manufacturer makes a wide range of PVC windows, doors and pipes, PP fittings and pipes, external sewage systems, drainage systems and other products made with the use of various plastics, according to data released by the firm.
The Romanian group also comprises Plastsistem, manufacturer of thermo-insulating panels, and structures for the construction industry, and Politub, producer of PE pipes for gas and water networks.