Hungarian Investment Promotion Agency

This is a major leap forward for the Hungarian construction material industry: after decades, fiberglass manufacturing is returning to Hungary. PIMCO Kft., owned by Masterplast and the Polish Selena Group, is building an 11,500-square-meter plant in Szerencs. With the EUR 47.5 million investment, the company aims to become a leading insulation material manufacturer in the Central and Eastern European region.

The global market for mineral insulation materials is expanding alongside stricter domestic and EU regulations related to building energy consumption. The market has previously faced shortages and supply chain issues. The new plant's 19,000-ton annual production capacity will ensure a steady supply of thermal and acoustic insulation glass wool rolls and board products for the Hungarian market and provide export opportunities in the Central and Eastern European region.

Construction is progressing on schedule, with the highest point of the building completed and celebrated with a traditional topping out ceremony.

Technological installations are expected to begin this summer. Following test production, the plant will begin operations in the first half of 2025, employing over 100 workers. The operation will primarily use waste glass cullet as a raw material, recycled during production according to circular economy principles. Equipped with a modern electric furnace, the plant will partially be powered by renewable energy in the future, with plans to establish a solar panel system. As a result, Szerencs will produce the most environmentally conscious insulation products.