April 2 (SeeNews) - Slovenian glass maker Steklarna Hrastnik said it will launch a holding company, GlobalGlass Holding, in Switzerland in April, with the aim of enabling further international strategic development.
The newly established GlobalGlass Holding and Steklarna Hrastnik have already started looking for a co-investor to support Steklarna Hrastnik's ambitious business plans which foresee the expansion of its production capacities, especially in the packaging glass segment, the Slovenian glass maker said in a statement last week.
This will enable Steklarna Hrastnik to respond to the growing demand, while also reinforcing its position in the niche, it noted.
"GlobalGlass Holding will lay the foundations for the long-term growth and development of Steklarna Hrastnik in the future. The positive operating results, the growing demand and the fact that most lines are booked for six months in advance confirm our ambitious strategic plans to expand the production capacities", Peter Cas, the general director of Steklarna Hrastnik, is quoted saying.
In the first quarter of 2018, Steklarna Hrastnik's overall turnover exceeded the plan by 2%, totalling 15.2 million euro ($18.7 million). Earnings before taxes totalled 1.9 million euro, 43% above plan. The production capacities are virtually fully booked through to the last quarter of this year.
Steklarna Hrastnik has been making glass products for over 150 years. The company has three production lines – special glass packaging, glassware and lighting, as well as handmade items.
($=0.8110 euro)