Masterplast continues expansion of factory in Serbia
Masterplast, Hungarian trading company and manufacturer of thermal insulation materials, launched the second phase of its €8.4 million project in Subotica, Serbia, according to an announcement issued by the company today.
The project, which received a €2 mln Serbian state grant, is expected to create 205 new jobs in the factory once the expansion is complete in 2016. The third phase is scheduled to be wound up in 2017. The company has received a bank loan of €4.3 mln for the expansion, while €2.1 mln will be used from the company’s own resources.
Currently the factory turns out more than 1 million sqm of fiberglass monthly, and this number is expected to reach a monthly 2.5 million sqms by the summer of 2016, and 4 million by the fall of the same year.
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.