Germany“s Lausch Fiber International has bought the facilities of bankrupt Sudogodskoye Steklovolokno, or Sudogda Fiberglass, based in the Vladimir Region for about EUR 600,000, a representative of t…
Germany“s Lausch Fiber International has bought the facilities of bankrupt Sudogodskoye Steklovolokno, or Sudogda Fiberglass, based in the Vladimir Region for about EUR 600,000, a representative of the regional department for industry said 11 May 2006. Lausch Fiber plans to use the bankrupt company“s facilities to create a plant to produce extra thin fiberglass for accumulator batteries and filter materials, the representative said. Lausch Fiber plans to invest a total of EUR 10 million in the plant, which is expected to have a capacity of 2,000 tonnes of fiberglass a year. The company plans to invest EUR 5 million in rebuilding in 2006, with work starting sometime in June-August, the representative said. Lausch Fiber has 35 plants in Europe that produce extra thin fiberglass. Lausch Fiber has annual sales of EUR 20 million.