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Knauf Insulation to buy glass mineral wool plant in Romania

Knauf Insulation to buy glass mineral wool plant in Romania Tarnaveni region Source: Knauff

BUCHAREST (Romania), January 26 (SeeNews) - Belgium-headquartered insulation products manufacturer Knauf Insulation said on Wednesday that it has signed a contract to acquire a glass mineral wool plant in central Romania from Gecsat for an undisclosed sum.

The acquisition of the plant located in Tarnaveni, Mures county will bring Knauf Insulation’s products closer to customers in the rapidly growing markets of Romania, Eastern Europe and CIS, the company said in a press release.

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"Knauf Insulation plans to invest in cutting-edge technologies and upgrade the Romanian plant, bringing the manufacturing processes to our high-quality standards," Knauf Insulation CEO for Europe/Middle East/Asia Dominique Bossan said.

With over 40 years of experience in the insulation industry, Knauf Insulation employs more than 5,500 people across more than 40 countries with 27 manufacturing sites in 15 countries. The company is present in Romania since 2008.

Founded in 1918 in Tarnaveni as Ardeleana Glass Factory, Gecsat started producing glass mineral wool in 2007.

Knauf Insulation is part of Germany-based Knauf Group, which employs more than 35,000 people worldwide, operating more than 250 factories and generating sales of over 10 billion euro.

($=0.8867 euro)

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