October 21 (SeeNews) - Slovenian glassmaker Steklarna Hrastnik, part of Switzerland-based GlobalGlass Group, said on Friday its investments next year will exceed 34 million euro ($33.1 million).
Steklarna Hrastnik plans to install a new furnace and begin construction on a new decoration factory which will increase its production capacities by over 200 tonnes a day, it said in a press release.
An investment in the renovation and construction of a new hybrid B furnace is being planned for next year as well as investments in innovative projects in the area of energy solutions and digitalisation, the company said.
In recent years, the strategic plans for the development of business operations of Steklarna Hrastnik and the GlobalGlass Group have shifted from producing lighting, tableware, and packaging glass with lower added value to a more complex segment of specialised packaging glass where there are higher market growth rates, it noted.
GlobalGlass is currently in the process taking over a takeover of insolvent Serbian glassmaker Srpska Fabrika Stakla (SFS) for an undisclosed sum.
(1 euro = 0.9751 dollars)