​Technonikol will invest more than 1 billion rubles in fiberglass production

Technonikol intends to invest more than 1 billion rubles in 2024 in the development of the production of mineral insulation based on fiberglass, the company’s press service reported.

In 2023, Technonikol acquired the Russian factories of the European manufacturer of insulating materials URSA. The deal with the URSA Eurasia division included two fiberglass production plants in Chudov (Novgorod region) and Serpukhov (Moscow region). Their total capacity is 53 thousand tons of products per year.

“The investments will be spent on expanding and modernizing existing facilities acquired as part of the deal with URSA Eurasia. It is planned to increase the volume of this production by 30%,” the statement says.

As it adds, from the beginning of 2024, mineral insulation based on fiberglass will be produced by the company under the TechnoNIKOL brand. For two to three years, it will continue to manufacture these products in parallel, using the URSA trademark.

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Technonikol is a large Russian manufacturer of roofing, waterproofing and thermal insulation materials, founded in 1992 by Sergei Kolesnikov and Igor Rybakov.

Source: https://realty.ria.ru/