The joint Masterplast and Selena glass wool factory project has reached a milestone. Glass wool production is revived in Hungary.

After a gap of several decades, the production of glass wool insulation materials in Hungary is to be revived through a Hungarian-Polish partnership. In January 2023, Masterplast Nyrt. acquired 100 percent ownership of PIMCO Kft., the project company established to develop glass wool production, and in June 2023, it entered into a strategic cooperation with the Polish company Selena FM S.A., and from now on the parties will participate in the project with a 50-50 share. As part of the cooperation between the two companies, a new 11,500 square metre glass wool production plant will be built on the 4.3-hectare site of PIMCO Ltd. in Szerencs.

Speeches were given by Mr. Tibor Dávid, President of Masterplast Plc. and Mr. Andrzej Zygadło, Member of the Board of Selena FM S.A. at the ground-breaking ceremony of the factory building. The joint Masterplast and Selena glass wool factory project has reached a milestone. Glass wool production is revived in Hungary.

After a gap of several decades, the production of glass wool insulation materials in Hungary is to be revived through a Hungarian-Polish partnership. In January 2023, Masterplast Nyrt. acquired 100 percent ownership of PIMCO Kft., the project company established to develop glass wool production, and in June 2023, it entered into a strategic cooperation with the Polish company Selena FM S.A., and from now on the parties will participate in the project with a 50-50 share. As part of the cooperation between the two companies, a new 11,500 square metre glass wool production plant will be built on the 4.3-hectare site of PIMCO Ltd. in Szerencs.

Speeches were given by Mr. Tibor Dávid, President of Masterplast Plc. and Mr. Andrzej Zygadło, Member of the Board of Selena FM S.A. at the ground-breaking ceremony of the factory building.