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Insulation maker Nikecell to merge with Bachl

Hungarian insulation maker Nikecell will merge with peer Bachl, which acquired it last year, to create a business that controls 40% of the domestic market, Bachl managing director Andras Varga said at a press conference on Thursday. The merged businesses will operate under the Bachl name, Varga said. The merger is scheduled to be completed in May, and Bachl expects revenue to reach HUF 6.8 billion this year.