AdePlast receives state aid for new stone wool plant in Romania

Romanian construction materials producer AdePlast obtained EUR 7.27 million in state aid from the Romanian Government to build a EUR 19 million stone wool plant in Ploiesti, Romania, according to the company. The rest of the investment comes from loans and the company's own funds. AdePlast’s new plant will create 115 jobs and will be completed in 2015. Also, the company will invest another EUR 580,000 in the platform in Ploiesti. Most of the investment, namely EUR 420,000, will go to the paints and decorative plasters factory, while the rest of the money will be invested to upgrade the polystyrene facility. AdePlast, owned by Romanian businessman Marcel Barbut, ended 2013 with a turnover of RON 253 million (EUR 57.3 million), up some 37 percent year-on-year. The company added four new factories to its portfolio in 2013, following total investments of some EUR 22 million. Irina Popescu, irina.popescu@romania-insider.com