Building materials group Uralita will invest EUR 14 million in a second fiber glass production line at its plant at Serpuchov in Russia. The investment will enable output capacity to increase by 16,00…
Building materials group Uralita will invest EUR 14 million in a second fiber glass production line at its plant at Serpuchov in Russia. The investment will enable output capacity to increase by 16,000 tonnes to 36,000 tonnes. The line is expected to enter service in the 1H of 2005 and will reduce imports of glass fiber from other Uralita plants in central Europe. The investment falls within the company strategic plan 2004-2006 and will enable Uralita to consolidate its leadership in the Russian fiber glass insulation market, which has grown by an annual average of 30% for the last three years. Uralita opened its Serpuchov factory in September 2002 with an investment of EUR 24 million. The plant is the group“s second in the country, where it began in 1995 with the acquisition of a factory in Tschudovo. The factories belong to the insulation division of Uralita, the result of the merger of the division with the insulation business of German Pfleiderer, acquired by the Spanish firm in September 2002 for EUR 203 million. The insulation division, which has 18 plants, generated 31.7% or EUR 993 million of group turnover between January-September 2003.