— By Plasteurope.com staff — 

With the acquisition of the Greek manufacturer of insulation materials, Monosi (Chalkida), Austrian EPS and XPS insulating board specialist Austrotherm (Waldegg; www.austrotherm.at) has expanded its production network to include Greece. The companies have not disclosed the purchase price.

 

The buyer said it intends to retain the Monosi site in Chalkida, around 70 km north of Athens. As part of the agreement, Austrotherm is keeping on all 30 employees and the managing director, Ilias Strousidis. The insulating material brand Monosi is also to be retained, explained Heimo Pascher, one of the managing directors of the Austrotherm group.

The product range of the Greek company includes insulating and EPS packaging materials and will now expand its assortment, adding XPS insulating sheets and boards to its portfolio.

Related: Austrotherm plans acquisitions in Turkey, Greece

Austrotherm now has 29 production sites in Austria, Germany, Bosnia-Herzegovina, Bulgaria, Croatia, the Czech Republic, Greece, Hungary, Poland, Romania, Serbia, Slovakia, and Turkey. In Turkey, there are also moves underway for a further acquisition, as the Austrian company recently reported.

— Translated by Jon Relton