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News Masterplast obtains outright ownership of Masterwool MW-1

Masterplast obtains outright ownership of Masterwool MW-1

Written by Global Insulation staff
23 March 2023
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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.

Published in Global Insulation News
Tagged under
  • Serbia
  • Masterplast
  • Stone wool insulation
  • Acquisition
  • Hungarian Export Promotion Agency
  • government
  • Plant
  • growth
  • Strategy
  • investment
  • market
  • Forecast

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