German group Knauf to invest another EUR 200 mln in Romania

The German group Knauf will invest EUR 200 million to develop two new factories for plasterboard, metal profiles and insulation materials in Romania, Profit.roreported.

The new production facilities will generate 200 jobs.

The Romanian authorities will support the project since the new production capacities will boost the local production of high value-added materials.

At the same time, the materials produced by Knauf will provide part of the domestic demand for construction materials, given that 90% of homes in Romania need insulation to reduce carbon emissions and the consumption of energy and natural gas for heating.

In May, Knauf Insulation, a division of the German group, took over the glass mineral wool factory Gecsat in Târnăveni, Mureș County. The acquisition of the plant aims to support deliveries to Knauf Insulation customers in the growing markets of Romania, Eastern Europe and the Commonwealth of Independent States (CIS).

The transaction, signed at the beginning of the year, was approved by the Competition Council.

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