Masterplast opens a subsidiary in Italy

MASTERPLAST ITALIA SRL comes into operation in the town of Barco, which is located 20 kilometres from Parma of Reggio Emilia county in northern Italy. Masterplast has a 51% of share in the company. The subsidiary, registered on 12 April, was jointly established by the Hungarian thermal insulation manufacturer and its experienced partner who has excessive knowledge of the local market.

In the last few years, Italy has become one of the most important export destinations, because the country’s thermal insulation programme Superbonus, granted by the state, has extremely boosted demand for insulation systems. Masterplast management forecasts persistently heavy demand on the Italian market. With the establishment of the new subsidiary, Masterplast can provide its existing and new customers with a wider choice of products and higher quality services on a greater geographic coverage.

The company, besides the booming distribution, also wishes to provide production for the Italian market. Masterplast is considering several options; this greenfield investment might cost up to 10 million EUR, while a potential acquisition could reach double this amount.

With the company’s dynamic growth, Italy might become a major market for the group, with a potential sales revenue of over 20 million EUR by 2023.

“The current Russian-Ukrainian conflict highlighted the fact that the European Union has a lot of building energy-related tasks to deal with, therefore thermal insulation goals and needs gain more attention. The recently approved “REPower EU” aims not only to make the European Union energetically independent of Russia but also to improve the energy efficiency of buildings and homes. We are expecting to see more grants across Europe, similar to the highly successful Italian insulation programme, which would focus on improving energy savings of buildings” – added Masterplast CEO Dávid Tibor.