Europe: Hungary-based Masterplast and construction firm Market Építő have cancelled plans for new a stone wool insulation plant in Central Europe. The companies previously announced a ‘strategic cooperation’ to build mineral wool plants in Hungary or Serbia in December 2022. MTI EcoNews has reported that Masterplast made the decision based on a ‘changed business environment,’ creating a 'deterioration of the key conditions’ for the investment.
Additionally, Masterplast will discontinue production at its Calerno expanded polystyrene (EPS) insulation plant in Italy due to 'unfavourable' market conditions. At the same time, it will restart EPS production at its Kál insulation plant in Hungary, in order to target the local market there. It will also consider a possible expansion of its Szerencs glass wool plant Hungary.
Masterplast said "The strategic focus will continue to be on glass wool production, its technological development and capacity expansion."
