June 9 (SeeNews) - Austrian thermal insulation manufacturer Austrotherm plans to invest 12 million euro ($13 million) to build a plant for expanded polystyrene (EPS) insulation boards in Zabok, near the Croatian capital Zagreb, it said on Friday.
The plant will spread on almost 8,000 square metres and will start production in the first half of 2024, the company said in a press release. The investment will create 30 jobs.
Austrotherm has a trading company in Croatia since 2010.
“More than 60% of the Croatian homes are poorly insulated or not insulated at all. The insulation materials of Austrotherm significantly reduce the costs for heating and cooling,” Klaus Haberfellner, CEO of Austrotherm Group said. There is still a significant potential also for insulation of the buildings on the popular Croatian Adriatic coast, he added.
Austrotherm is a family-owned company, part of the Schmid Industrie Holding group. Last year, the holding generated a revenue of 2.6 billion euro and had 6,900 employees.
($ = 0.929 euro)