Masterplast sets up JV to acquire German plant

Tourism

Hungarian building materials maker Masterplast on Friday said it established a joint venture, called Masterplast Nonwoven, to acquire a plant of German peer LHB in Aschersleben, state news wire MTI reports.

Masterplast owns 50% of the JV but has exclusive management rights. LHB founder Hartmut Layer owns the other 50% stake.

The JV will start operation on July 1, 2020 with the acquisition of the Aschersleben plant.

Masterplast announced in May that it would set up the JV which would acquire the plant.

Annual sales of the JV, which will make special fleeces and multilayer membranes for the healthcare and construction industries "could exceed EUR 15 million", Masterplast said.

Banking Sector Forint Liquidity up in February Banking

Banking Sector Forint Liquidity up in February

Budapest Residents to Weigh in on Rákosrendező Development P... Issues

Budapest Residents to Weigh in on Rákosrendező Development P...

Czech Industrial Output Stalls in January Manufacturing

Czech Industrial Output Stalls in January

These Are the Most Sleep-friendly Hotels in Hungary Hotels

These Are the Most Sleep-friendly Hotels in Hungary

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.