Gorlice, Poland – Polish insulation company Gor-Stal is planning to invest PLN25m (€5.3m) to expand the production capacities of its two factories in Gorlice and Bochnia, southern Poland. The latest development comes as the company is backpedaling on its earlier plans to sell its polyisocyanurate (PIR) insulation business to Belgium’s Recticel, which itself could be acquired by Austria’s Greiner.
In Gorlice, construction has started for a new facility, with a production hall and offices. 'The production hall will be 2,000m2, and to this we will add a further 1,000m2 of office space,' Jaroslaw Wilk, Gor-Stal’ managing director, told local daily Gazeta Krakowska.
This investment is worth about PLN11m (€2.3m), and it is scheduled to be completed by the end of this year. No details of the other expansion were given.
The company’s expansion is related to the rising demand for its products from abroad. Its main export markets include the US, Canada, Netherlands, Belgium, Sweden, Norway, Iceland, Czech Republic, Slovakia, Indonesia and Kazakhstan.
On the occasion of Recticel’s recent release of the group’s results for the third quarter of 2021, Olivier Chapelle, the company’s chief executive, said that the closing of the acquisition of Gor-Stal’s insulation board business was postponed indefinitely.
Under its initial plan, the Belgian manufacturer planned to complete the takeover last July. However, the project was halted when the Polish company’s owners informed Recticel that they do not want to proceed with the sale citing changed circumstances. ‘Recticel will use all legal steps available to enforce the acquisition and obtain full damages,' Chapelle said.
Meanwhile, the European Commission has launched an investigation into Greiner’s plans to take over Recticel. Through this procedure, Brussels aims to determine whether the Austrian plastics and foam producer’s bid for the Belgian group could have a negative impact on competition in the sector.
Urethanes Technology International has reached out to Gor-Stal with a request for comment.
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