8 January 1998: The planned I25 million investment programme at the Ardagh glass bottle manufacturer will open up new growth opportunities for the company and secure shareholder value in the long-term…
8 January 1998: The planned I25 million investment programme at the Ardagh glass bottle manufacturer will open up new growth opportunities for the company and secure shareholder value in the long-term, the chairman, Mr. Peter Murray, has told shareholders. At a recent annual meeting, Murray said the investment was “essential for Ardagh to be competitive and to survive.” Referring to the I 25 million investment plan for its Irish Glass Bottle plant announced recently, Mr. Murray said “This investment will bring our manufacturing costs into line with the most cost efficient plants in Europe, thereby enabling the company to continue competing effectively in its traditional markets while at the same time opening up new growth opportunities not previously available”. Murray also said Ardagh was seeking to win a two to three percent share of the larger UK market. “We already have a track record in the UK and an existing customer base there,” he said. “Our established relationships with major international purchasers of glass containers will also be of benefit.” The upgraded glass bottle manufacturing facility at Ringsend in Dublin will take 18 months to complete, will be fully operational by 1999, and will be funded by the company“s own resources.