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Listed building materials maker Masterplast on Friday said it entered into a strategic cooperation agreement with Hungarian construction company Market Építő to set up jointly-owned capacity to produce insulation. Under the agreement, Masterplast and Market Építő would establish one or two 50-50% joint ventures in Hungary and/or Serbia, with Masterplast exercising management rights. New mineral wool factories would be set up, supported by state funding, and their output purchased by Market Építő for construction projects and by Masterplast for its commercial activities. The partners will work out the details of the cooperation by the first half of February 2023.