Brief: Selena FM Starts Cooperation Regarding Investment In Joint Glass Wool Production Plant

Selena FM SA

29/06/2023 07:11

June 29 (Reuters) - Selena FM SA  SELP.WA :
    * TOGETHER WITH MASTERPLAST NYILVÁNOSAN MŰKÖDŐ
RÉSZVÉNYTÁRSASÁG
DECIDES TO START STRATEGIC COOPERATION
    * STRATEGIC COOPERATION REGARDS INVESTMENT IN JOINT GLASS
WOOL
PRODUCTION PLANT
    * COOPERATION WILL BE CARRIED OUT WITHIN PIMCO COMPANY IN
WHICH
BOTH PARTIES WILL ULTIMATELY HOLD 50% STAKE
    * COMAPANY TO ACQUIRE STAKE IN PIMCO FOR EQUIVALENT OF EUR
10
MILLION
    * INVESTMENT WORTH ABOUT EUR 47.5 MILLION WILL BE CARRIED
OUT IN
SZERENCS, WHERE PRODUCTION IS TO START IN H1 2025
    * PRODUCTION CAPACITY OF PIMCO KFT. IS ESTIMATED BY PARTIES
AT 19
THOUSAND TONS PER YEAR

Source text for Eikon:  ID:nEM4RLZLQa 
Further company coverage:  SELP.WA 

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