Masterplast sets up JV to acquire LHB plant in Aschersleben, Germany

Hungarian building materials maker Masterplast established a joint venture, Masterplast Nonwoven, to acquire a plant of German peer LHB in Aschersleben. Masterplast owns 50% of the JV with exclusive management rights, and the JV will start operation on July 1, 2020.

“Annual sales of the JV, which will make special fleeces and multilayer membranes for the healthcare and construction industries 'could exceed EUR 15 million'.”bbj.hu

• 3 sources
• bbj.huMasterplast sets up JV to acquire German plant - Budapest Business JournalMTIJun 6, 2020
• budapester.huAkquisition in Deutschland - Budapester ZeitungZsuzsa UrbánJun 7, 2020
• gruendelpartner.deMasterplast-Gruppe erwirbt Produktionsstätte der LHB GmbH & Co. Beschichtungs KG in Aschersleben: GruendelpartnerJul 1, 2020

Summarized from public sources; check the original articles before acting on it.