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Sep 20, 2023 17:35 EEST
September 20 (SeeNews) - Simest, a public-private company that helps Italian companies expand overseas, said on Wednesday it has acquired 44% of the Croatian unit of Italian manufacturer of insulation panels Ediltec, for 2 million euro ($2.1 million).
The funding will help build a 20,000 square metres (sq m) plant plant for production of insulating panels in Lepoglava, northern Croatia, with an annual production capacity of some 250,000 cubic metres.
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With a total investment of about 9.5 million euro, Ediltec will be able to solidify its presence in the Western Balkans region, particularly in Croatia, Serbia, and Slovenia, which are among the fastest-growing markets in the sector.
($ = 0.932 euro)
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