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Masterplast inaugurates HUF 1-bln plant in Serbia

Hungarian building materials company Masterplast inaugurated a more than HUF 1 billion plant - its biggest ever - in the Serbian city of Subotica.

The plant will make products for the fast expanding market in Serbia and neighboring countries.

The investment was financed with a bank loan taken out by Masterplast's Serbian unit, Masterplast YU, Masterplast spokeswoman Éva Bíró said when asked by MTI.

Masterplast decided to expand its capacity because of rising energy prices and stricter energy efficiency requirements, said CEO Balázs Ács.

Masterplast has units in 17 countries in the region as well as one in China. It employs a staff of more than 700.

Masterplast had after-tax profit of €6 million on revenues of about €100 million in 2007, up from profit of €5 million on revenue of more than €75 million in 2006. (MTI – Econews)