“The takeover is yet to be approved by regulators and should be completed by the end of the first quarter of 2023,” the site said.
Although the acquisition price was not stated, GlobalGlass Group is slated to invest EUR 100 mln to re-up the factory, and there are “ambitious” growth plans for the region, according to a Slovenian press release from Steklarna Hrastnik, as cited by regional news provider SEE News.
According to the release, Global Glass will increase production by 30 tonnes per day, with Steklarna Hrastnik CEO Petar Cas adding that “the bulk of production in Serbia will involve glass for the food industry and supply of the Serbian market and markets of South-East Europe, where there is a shortage of supply.
Photo of Steklarna Hrastnik factory in Slovenia by: Jon Rawlinson, CC BY 2.0 <https://creativecommons.org/licenses/by/2.0>, via Wikimedia Commons.
