New Teraplast Boss' Target Is To Improve Profitability

05.16.2011 ZF English

Emanoil Viciu, former president of Teraplast Bistrita (TRP.RO) and one of the main shareholders of the PVC profiles and pipes manufacturer, says the recent changes in the company's management are aimed at improving the company's profitability, which has declined in the last two years despite the turnover growth.

Teraplast's Board of Directors has made significant changes to the management team since the beginning of this year, bringing Stefan Bucataru, formerly investment manager at Greek private equity company Global Finance, as general manager.

Bucataru has expertise in reorganizing and restructuring businesses.

In the first quarter, Teraplast's net profit fell 57%, to around one million lei (EUR250,000) while its turnover climbed 10.9% to RON38.1 million (EUR9 million). (EUR1=RON4.106)