Masterplast to build HUF 9.5 bln fleece plant in Hungary

Listed building materials company Masterplast on Wednesday said it will build a HUF 9.5 billion plant in Hungary to make fleece for masks and personal protective equipment, according to a report by Hungarian news agency MTI.

A HUF 7.5 bln government grant is covering 80% of the investment cost, Masterplast said.

Masterplast is using knowledge and experience gained through its recent acquisition of a fleece plant in Germany to conduct research and development at the new plant to be built at its base in Sárszentmihály in Western Hungary.

The plant will have the capacity to turn out 7,000 tonnes of fleece a year. Production is scheduled to start in June 2021.

Masterplast puts planned sales of its healthcare business at EUR 15 million-20 mln in 2021.

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