Belarus: government seeks investor for glass firm

The Belarusian construction ministry is looking for a big investor for Homyel glass company AAT Homyelshklo. “The government has tasked the economy ministry and the State Property Committee with prepa…

The Belarusian construction ministry is looking for a big investor for Homyel glass company AAT Homyelshklo. “The government has tasked the economy ministry and the State Property Committee with preparing the sale of a stake in AAT Homyelshklo. If there are worthy bids, we“ll consider them”, deputy minister Uladzimir Malets told reporters at the opening ceremony for an international building materials and equipment exhibition in Minsk in the week ending 13 September 2008. The investor is supposed to help the company start manufacturing ultra-thick and ultra-thin faade glass, Mr. Malets said. He said the project is estimated at USD 139.8 million and would allow the company to almost double its output and increase its annual proceeds from USD 90 million to USD 112.1 million. Established in 1933, Homyelshklo produces 18 million square meters of glass and about 3.5 million bottles a year. It has exported polished glass to more than 30 countries in recent years.