Brazil: Elcateq, which manufactures a range of insulation materials for roofing and other construction applications, is eyeing sales of over US$1m in 2015.
"This year's target is US$1m of turnover. In 2012 our turnover was zero, but in three years things have constantly changed for the better," said Elasteq board member Kristian Kahre. Elcateq started production in 2012 and now has a portfolio of nine products. In 2013 Krimelte, Estonia's polyurethane foams and sealants producer, acquired a 40% stake. It now has a majority shareholding.
Kahre said that Elcateq would also consider future expansion. "We need to build up some reserves, but I believe that further expansion is possible, maybe further development of the company within Brazil," said Kahre. "We also might increase production space at some point."
