Belgium-based Pittsburgh Corning Europe is to set up a new plant for the production of foam glass insulation in the Czech Republic town of Klasterec nad Ohri.
Total investment is estimated at Kc 791 …
Belgium-based Pittsburgh Corning Europe is to set up a new plant for the production of foam glass insulation in the Czech Republic town of Klasterec nad Ohri. Total investment is estimated at Kc 791 million and the project should create 175 new jobs. The first phase of the project is for a plant with an initial capacity of 10,000 cubic metres per year, scheduled to go on stream in May 2001. If demand for cellular glass insulation in Eastern Europe develops as expected, Pittsburgh Corning is considering a second phase consisting of the installation of lines with a capacity of 160,000 cubic metres per year. Under a package of incentives for foreign investors, Pittsburgh Corning will benefit from a 10-year tax holiday, grants for new jobs and coverage of expenses for each training and qualification course for new employees.