Fabrica de Sticla: 2009 investments

Moldovan state-owned glassmaker Fabrica de Sticla din Chisinau will invest EUR 5 million (USD 7.0 million) in upgrades in 2009, as reported by the country“s Economy Ministry on 6 July 2009.
The inve…

Moldovan state-owned glassmaker Fabrica de Sticla din Chisinau will invest EUR 5 million (USD 7.0 million) in upgrades in 2009, as reported by the country“s Economy Ministry on 6 July 2009. The investment will be financed by the company“s own sources and loans, and will be used mainly on equipment upgrades, the ministry said. Part of investment planned for 2009, to make production more energy-efficient, will come from the 95% reinvestment of the company“s 2008 net profit. Fabrica de Sticla posted MDL 16.7 million (USD 1.5 million/EUR 1.1 million ) in net profit in 2008, more than five times up from 2007, the ministry said. In April 2009, the company spent MDL 24.6 million on new packaging equipment from Italian Emmeti. Fabrica de Sticla employs 800 people and exports to 15 countries, including Romania, Bulgaria and Russia.