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Gostomel Glass Factory receives financing

The European Bank for Reconstruction and Development will lend US$ 12 million to the Gostomel Glass Factory in Kyiv region, the largest glass-container producer in Ukraine, supplying a wide range of l…

The European Bank for Reconstruction and Development will lend US$ 12 million to the Gostomel Glass Factory in Kyiv region, the largest glass-container producer in Ukraine, supplying a wide range of local and international beverage, food processing and pharmaceutical companies, the bank said in a press release. The long-term financing will be used to refurbish and replace Gostomel“s production facilities, help implement international accounting standards (IAS) and meet the ISO 9000 certification standard. The factory has the capacity to produce 1.3 million glass containers per day. Employees own 79.64% of the factory“s shares, other individuals hold 18.7%, and legal entities own 1.59%.

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