Masterplast announced the establishment of the Italian subsidiary, with a 51% stake, in April 2022. It said the business's co-founders were "individuals with wide experience and extensive business relationships in the local building materials market".
In September, Masterplast said the unit decided to launch production of insulation at an existing production facility in Calerno. When the plant reaches full capacity, it could add EUR 15 million a year to Italian sales, it added.
Masterplast's turnover in Italy came to EUR 13.6 mln last year, accounting for 7% of total revenue, the company's latest earnings report shows.
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