Guala Closures invests in new facilities

Italy“s Guala Closures S.p.A., which makes caps for wine bottles and other beverages, plans to invest EUR 24 million (USD 28.9 million) to build manufacturing facilities in the northern Italian provi…

Italy“s Guala Closures S.p.A., which makes caps for wine bottles and other beverages, plans to invest EUR 24 million (USD 28.9 million) to build manufacturing facilities in the northern Italian province of Alessandria, where the firm“s new headquarters will be located, Guala Closures said. Guala Closures, which closed 2004 with turnover of EUR 230 million (USD 276.8 million), is due to debut on the Star segment of the Italian Stock Exchange in mid-November 2005. The company will float between 50% and 60% of its share capital with the aim of reducing debt and sustaining growth.