Cherkassy-located Zavod Techno whose market share of mineral thermal insulation accounts for 41% in Ukraine, became the property of Sweetondale, company from the Czech Republic.
The parties conducted negotiations since 2015, and closed the deal in early 2018 with the purchase of a mineral thermal insulation factory in Cherkassy and two factories producing polymer insulation and bitumen-polymer materials in the Dnipropetrovsk region.
Cherkassy Zavod Techno produces heat-insulating and fireproof plates, lamella, roll products and technical insulation, providing 41% of the Ukrainian market with mineral thermal insulation.
In the near future, the new owners are going to invest about 3.5 million euros in order to improve the products quality and to ramp up annual production capacity to 1.5 million cubic meters of mineral insulation, said Sweetondale CEO Tikhomir Lilovich.
Almost simultaneously with the sale of Ukrainian assets, TechnoNICOL completed the acquisition of a 100% stake in the Belgorod plant for the production of stone wool ZNOiM JSC, previously part of IZOVOL GC.