Masterplast said in a disclosure on Wednesday that a Hungarian unit of the company won a grant covering 80% of the HUF 2.6 billion investment.
Earlier, Masterplast was awarded a government grant covering 80% of the cost of a HUF 9.5 bln fleece plant at the base.
The latest investment in Sárszentmihály will allow Masterplast to turn its fleece feedstock into finished healthcare products, such as protective coveralls, medical gowns, disposable medical suits, foot bags, head protection, and isolation sheets. Production is set to start in September 2021.
Masterplast entered the healthcare products market last summer with its acquisition of a fleece plant in Germany. The company is applying know-how gained from that venture at the base in Sarszentmihaly.
The government grants Masterplast has been awarded for the investments are part of funding earmarked to reduce Hungary's dependence on foreign-made medical supplies.
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