Lipex Engineering

Munich-based Lipex Engineering GmbH announced plans to build a new basalt fiber production plant in Gukovo, Rostov, Russia. The €50 million facility is expected to be completed in about two years and will employ 160 engineers, producing 5 tons of basalt fiber composites.

Lipex Engineering GmbH finalized a contract to build a turnkey basalt fiber production plant in Gukovo, Rostov Oblast, Russia. The plant represents an investment of EUR 50 million, will employ 160 people, and have a yearly capacity of more than 5 tons. Completion is expected within two years.

Lipex Engineering GmbH will deliver a basalt fiber nonwoven tissue production line to the Chinese market, with a yearly capacity of over 140 million square meters, scheduled to begin operation in early 2020.