Vetropack acquires a glass plant in Moldova

The Swiss group Vetropack, one of the leading European manufacturers of glass containers, has signed an agreement on the acquisition of a glass factory in Moldova.

With the acquisition of a glass factory in Chisinau, the Vetropack group continues its expansion strategy. This new addition to the Vetropack group, which consists of two separate production units (Glass Container Company and Glass Container Prim), will strengthen its position in the Central and Eastern European market.

“With this acquisition, we continue to expand into a region we know very well - a region where we have nearly thirty years of experience in glass production,” says Johann Reiter, CEO of the Vetropack Group. The group's experience in Central and Eastern Europe makes it a natural choice to expand the existing Moldovan glass production. Vetropack's strategy has always been to integrate its acquisitions into the group while preserving their local identity and identity.

The new Vetropack glass plant in Chisinau produces about 100,000 tonnes of glass containers for the food and beverage industry annually, which are sold in both the growing domestic and export markets. Currently, the Moldovan glass factory employs about 450 people, and the turnover in 2019 was about 40 million euros.

The acquisition is scheduled to close in November 2020, subject to competition authority approval. The value of the transaction is not subject to disclosure. Vetropack Group has modern production facilities in Switzerland, Austria, Czech Republic, Croatia, Slovakia, Italy and Ukraine.

Source: https://news.unipack.ru/