TeraPlast Group strengthens its management team by appointing a development director
· TeraPlast Group appoints Laszlo Vajda as Development Director
· The appointment comes in the light of the shift in strategy of the Group in 2020 and the 2021-2022 development plans
Bistrita, December 3, 2021
TeraPlast Group announces the expansion of the management team by appointing Mr Laszlo Vajda as Development Director. The new director starts his work in December and will coordinate the development strategies for all the companies within the Group. The last position occupied by Mr Vajda was of Country Manager for Romania and Hungary at Pipelife Group.
This position dedicated to development complements the executive responsibilities in the light of the growth objectives set for the business and product portfolio to capitalize on the new market opportunities. By co-opting Laszlo Vajda, the Group will benefit from his extensive experience gained on foreign markets and in the polymer processing field. Laszlo Vajda has over 20 years of experience in the field, and the various hierarchical positions he held in his career make him a fine connoisseur of production processes and, at the same time, a capable strategist.
„A business is judged by the figures it reports. Behind the figures, however, are the people, their ideas and strength. They are the ones who generate ideas and turn them into profit for the shareholders. Since we have set the objective of annual double-digit growth, the need for a Development Director has become apparent. Laci is first a professional who comes from a global organization and will be an important asset in the development of the Group. He adds an experience that complements ours. At Group level we encourage the performance of our colleagues either by internal promotion or by the external recruitment of specialists with a good sense of the market, who have the same values as we do. The vision and adaptability of our team turned TeraPlast Group into the strong regional player it is today”, stated Alexandru Stanean, CEO of TeraPlast Group.
„As a player on this market for the last 15 years, I have watched TeraPlast’s evolution, its sustainable growth and dynamism that have made the Group what it is today. To everyone in this industry and beyond, it represents a model of sustainable development and should be taken as an example!” stated Laszlo Vajda. „I fully share the philosophy that governs the organization and from this perspective the integration within the team is easy. Therefore, we are on the same page, we have harmonized perspectives, and this is the ideal starting point to work together in key areas on strategies that ensure the Group’s continuous evolution and improvement of the performance. We have a busy agenda; TeraPlast aims to be a model of sustainable development for Romania and not solely, and our strategy focuses on recycling, on the responsible use of resources and the integration of all the sustainable values within the business model: environment, social and governance” added Mr Vajda.
Laszlo Vajda joins the Group with 20 years of experience in polymer processing companies in many positions. Over time, he was responsible of production processes, overseeing investments, streamlining technical and production flows as well as product development and quality management. At the same time, he gained strategic experience from the position of general manager, coordinating in recent years the activity in Romania and Hungary of the Pipelife Group.
· TeraPlast Group reported, during the first nine months of this year, a turnover of RON 451 million and an EBITDA of RON 64,5 million, increasing by 46%, respectively 32% compared to the first nine months of 2020. In the same period, the net profit of the Group increased by 41%, up to RON 30,6 million in the first nine months of 2020.
· Out of the EUR 32 million investments the Group implements in 2021, EUR 20 million are channelled towards increasing by 50% the production capacity of the Installation business line to optimally accommodate the existing market opportunities.
· Starting this quarter the TeraBio Pack factory is operational, a EUR 12 million investment to produce OK Compost certified biodegradable packaging.
· The Group’s strategy also includes sustainable development objectives. Starting 2018, TeraPlast holds an international patent to produce multi-layered PVC pipes with recycled core. Since 2021, the processing capacity of the recycling factory increases from 12.000 t/year to 31.000 t/year. At the same time, over 7.000 photovoltaic modules are installed on the halls of the Saratel Industrial Park, and the Group plans to expand them on the new production and storage halls as well, to ensure independently and responsibly a part of the necessary energy.
About TeraPlast Group
The Group is comprised of the companies TeraPlast, TeraGlass, TeraPlast Recycling, TeraBio Pack and Somplast. Starting July 2nd, 2008, TeraPlast SA – the parent-company of the TeraPlast Group – is listed on the Bucharest Stock Exchange under the TRP symbol. The company’s shares are included in the BSE reference index, BET, and starting September 2021, in FTSE Russell’s Small Cap and Global All Cap indices. Within the Vektor evaluation based on 15 criteria for investor relations communication, conducted by ARIR, TeraPlast received the highest mark: 10, for the second year.
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