Large Russian automobile and construction glass producer Bor Glass Plant (Nizhny Novgorod region) plans to begin renovation of one of its two polished glass production lines in March, according to a c…
Large Russian automobile and construction glass producer Bor Glass Plant (Nizhny Novgorod region) plans to begin renovation of one of its two polished glass production lines in March, according to a company source. Modernization of the polished glass line is a priority task, which is part of the company“s reconstruction program in 2000. In addition, this year the plant plans to install modern equipment to produce triplex automobile glass. It is planned to begin reconstruction work on the polished glass production line, which will last 135 days, on March 21. As part of reconstruction, the line“s equipment will be practically fully replaced. During the reconstruction, the company“s second production line will supply orders, as will warehouse reserves. According to the source, a total of US$ 25 million – US$ 30 million will be invested in the reconstruction program in 2000, which will improve both the quality and the range of the plant“s produce. Production at Bor Glass Plant in 1999 amounted to over 1.3 billion rubles, up 15% from 1998. Bor Glass Plant charter capital amounts to 419 million rubles, split into 4,410,066 common shares with a par value of 95 rubles. The company“s largest shareholders include: Belgian Glaverbel (over 25%), the European Bank for Reconstruction and Development (19.3%), the International Finance Corporation (19.3%) and Alfa Capital (7.9%).