Hungary/Serbia: Building products producer Masterplast and construction company Market Epito have entered into a strategic cooperation agreement to build mineral wool plants in Central Europe to meet anticipated demand for insulation. Plans for a first plant to be built in either Hungary or Serbia could be finalised in the first quarter of 2023. Joint-venture companies will be set-up on a 50:50 basis to support the new plants. As part of the deal, both companies would endeavour to purchase mineral wool from the new production units where possible for Market Epito’s construction projects and Masterplast’s commercial activities. The companies also hope to use public funding to support the building of new plants due to their importance to the national economy.
