Masterplast Decides on Cheaper, Faster Production Investment in Italy
Listed Hungarian building materials company Masterplast on Tuesday said its majority-owned Italian joint venture decided to launch production of insulation at an existing industrial facility, rather than a greenfield site, saving EUR 2 million and reducing the investment period by three months, according to a report by state news wire MTI.
The leased factory, in Calerno (Northern Italy), will be ready to start production in March 2023. It will have the capacity to produce 300,000 cubic meters of polystyrene insulation a year and turn out 150,000 cubic meters in the first year.
Sales of the full capacity could generate around EUR 15 mln a year on the Italian market, Masterplast said.
Masterplast announced in April that it established a JV in Italy with "individuals with wide experience and extensive business relationships in the local building materials market".
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