Masterplast JV launches EUR 4.5 mln greenfield investment in Italy
Listed Hungarian building materials company Masterplast on Thursday said Masterplast Italia, in which it holds a 51% stake, is launching the construction of a EUR 4.5 million insulation plant in Reggio Emilia, according to a report by state news wire MTI.
Production is expected to start in H1 2023. The plant's output could exceed 300,000 cubic meters of expanded polystyrene insulation a year.
Masterplast announced earlier in April that it established a JV in Italy with "individuals with wide experience and extensive business relationships in the local building materials market".
"With the dynamic growth of its operations in Italy, Italy could become one of the group's most important markets, generating sales of more than EUR 20 mln by 2023," Masterplast said.
Masterplast had revenue of EUR 191.5 mln last year. In guidance issued in January, it put 2024 revenue over EUR 300 mln.
MOL Shareholders Approve Dividend of Around HUF 250/Share
Gov't Awards HUF 6.5 bln of Subsidies to SMEs in Underdevelo...
LOT Seoul Flight Lands in Kazakhstan Due to Drunken Passenge...
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
