Hungarian-owned building materials company Masterplast Group on Tuesday said it won a HUF 54 million grant to support research and development projects worth a combined HUF 160 million.
Unit Masterplast will get HUF 17 million of the grant money to support a HUF 62 million project to develop powder mixtures for tile glue. The project is expected to finish at the end of 2012.
Unit Masterfoam will get HUF 37 million of the grant money to support two projects, one involving a degradable packaging material and the other an insulating material, worth a combined HUF 102 million. The projects are expected to wind up at the beginning of 2012.
Masterplast, established in 1997, has units in twelve countries. The company had revenue of €85.2 million in 2010, edging up 1.5% from 2009.
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