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.
ADVERTISEMENT
Gov't Grants Support HUF 87 bln in Healthcare Investments
Parl't Approves Amendments to Legislation on Judiciary
Poland Jobless Rate Lowers Further in April
Accommodation Fully Booked Over Pentecost Weekend
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
