Steklarna Hrastnik to Take Over Paracin Glassworks – Plan Includes Increase of Production Capacities and Moving of Part of Portfolio from Slovenia to Serbia

Source: eKapija Sunday, 23.10.2022. 14:03
Illustration (Photo: bibiphoto/shutterstock)Illustration
Through its owner, GlobalGlass from Switzerland, Steklarna Hrastnik, the Slovenian company for the development and production of top-quality glass packaging, is taking over the SFS Paracin glassworks in Serbia

The glass factories, according to the company’s press release, will become sister companies and contribute significantly to the implementation of the Group’s strategic plans.

The Group has ambitious growth plans on the European glass market and it will allocate over EUR 100 million in the coming years to further modernize and expand business operations in Slovenia as well as in Serbia, where the production capacities are expected to increase to 1,150 tons of glass a day in the future.

The glassworks in Paracin and Steklarna Hrastnik have a similar history and seek to achieve the same objectives. The extensive specific knowledge, acquired in Hrastnik, in the field of business transformation and shift from mass segments of the glass market to premium ones will play a key role in the further expansion of operations of the GlobalGlass Group at the location of Hrastnik as well as at the new production location in Serbia.

– The bulk of production in Serbia will involve the standard quality of glass for the food industry and supply of the Serbian market and markets of South-East Europe, where there is a shortage of supply. A part of the portfolio will be moved from Slovenia to the Paracin glassworks, whereby we are trying to raise the level of quality, added value and profitability of the Serbian factory – pointed out Peter Cas, Chief Executive Officer of Steklarna Hrastnik.

The takeover of SFS Paracin is still the subject of usual suspensive conditions, including the approval of competent institutions for the protection of competition. The procedures, as announced, are expected to conclude by the end of Q1 of next year.

Let us remind that the first sale of the glass factory was advertised at the beginning of September.

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