Masterplast announces EUR 2.1 mln polystyrene investment
Listed Hungarian building materials maker Masterplast announced plans on Tuesday to build a EUR 2.1 million polystyrene insulation plant to meet an expected increase in demand as the European energy crisis drives building upgrades, according to a report by state news wire MTI.
With an annual capacity of 300,000 cubic meters, the plant will boost Masterplast's current capacity by around 40% when it starts operating in Q1 2023.
The new plant, in Kál (about 95 km northeast of Budapest), will "play a key role in the efficient supply of the Hungarian and Slovakian markets", Masterplast said.
Masterplast will cover the cost of the investment with its own resources.
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