Insulation industry news from Global Insulation
Serbia: Hungary-based Masterplast has inaugurated the 150,000m3/yr Subotica insulation plant in Vojovodina. GradSubotica News has reported that the plant will be the first in Serbia to produce extruded polystyrene (XPS) insulation. The Hungarian Export Promotion Agency (HEPA) provided 50% of investment in the plant. Masterplast's on-going strategic expansion in Southeast Europe is aimed at making it insulation market leader amid growing demand in the region.
Serbia: Masterplast has concluded a deal to acquire the outstanding 49% stake in mineral wool insulation producer Masterwool MW-1. Masterwool MW-1 is currently building a new Euro20m mineral wool insulation plant in Vojvodina. The project is supported by a grant from Hungarian state-owned Hungarian Export Promotion Agency (HEPA).
Masterplast plans to commence a Euro50m growth phase in the near-term future. It expects its sales to drop in the first half of 2023 due to negative trends in new home construction. However, it expects recent new expanded polystyrene (EPS) and extruded polystyrene (XPS) insulation capacity to partly offset this.
