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Masterplast inaugurates €1.4 mln fiberglass-mesh plant

Recycling

Hungarian construction-materials company Masterplast inaugurated a new, €1.4 million fiberglass-mesh plant in Kál on Thursday. Mostly intended for EU export, production at the new plant is expected to generate revenue of €1.4 million this year and €2.8 million next year, when the factory's fiberglass-mesh output will reach full capacity, the company said. The investment was part of a €4.4 million development project of Masterplast, which includes new plants also in Romania and Ukraine with a view to raise total sales revenue to €114 million in 2014. On a shrinking European and domestic construction market, Masterplast could increase its sales revenue, mostly from insulating material, by 4% to €85.23 million last year, but market conditions, forex impact and one-off costs resulted in a net loss of €1.22 million after a net profit of €1.59 million in 2011.

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