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Glaverbel becomes Scheuten partner in Moustier line

The construction of a new float glass line at the Glaverbel Group production facility in Moustier, Belgium, is the fruit of a 50/50 joint-venture investment agreement between the Belgian glassmaker an…

The construction of a new float glass line at the Glaverbel Group production facility in Moustier, Belgium, is the fruit of a 50/50 joint-venture investment agreement between the Belgian glassmaker and the glass processing group Scheuten Glasgroep, based in Venlo, the Netherlands. The line, due to come on stream by the third quarter of 2001, will be the fourth at the Moustier site and will help both partners meet the demands of their respective markets. Scheuten acquired its 50% stake in the project with an investment of around Euro 47 million. Under the terms of the agreement, signed on 23 November 2000, Glaverbel will be responsible for the operational management of the line while output will be shared equally between Glaverbel and Scheuten. The project is expected to create around 60 jobs. Scheuten Glasgroep recently bought out the 49% minority stake in Scheuten Beheer held by UK group Heywood Williams. Heywood Williams moved out of glass processing as a core business in 1999. The buyout gives Scheuten full control of Scheuten Glasgroep. According to Scheuten, the group now has the opportunity to develop further in its “planned strategy of growth”, both autonomously and through acquisitions.

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