With the acquisition of Zentyss (Arad, Romania; www.zentyss.ro), insulation manufacturer Austrotherm (Waldegg, Austria; www.austrotherm.at) has further expanded its presence in Southeast Europe. The Zentyss plant for XPS boards in Arad is to be integrated into the Austrotherm group with its 106-strong workforce, the Austrian company announced. Investments in Arad are also planned for the coming years. The parties have agreed not to disclose the purchase price of the transaction.

The acquisition “perfectly” complements Austrotherm’s existing activities in Romania, said managing director Klaus Haberfellner. His company already operates EPS and XPS production facilities in the capital city of Bucharest and in Horia in the north-east of the country; the workforce in Romania comprises more than 250 employees.

The Austrotherm group as a whole, with 25 production sites in 12 countries, has 1,200 employees to date. The turnover of the company, which belongs to Schmid Industrieholding, was EUR 517 mn in 2021.