Heinz Ferrand Glass invests USD 15 million in new plant

Despite the financial crisis, Heinz Ferrand Glass is aiming to supply the US container glass market from Peru and will initiate exports before the end of 2008.
The company, born of the strategic alli…

Despite the financial crisis, Heinz Ferrand Glass is aiming to supply the US container glass market from Peru and will initiate exports before the end of 2008. The company, born of the strategic alliance between Heinz Glass of Germany and Peruvian Ferrand glassworks, started production on 10 December 2008 at its new glass container manufacturing and decoration plant which serves the cosmetic and perfumery industry. “We have invested USD 15 million to set up the most modern glass plant in South America,” said Napoleon Valdez Ferrand, president of the board of directors. The executive said that the goal for 2009 exports is to reach USD 10 million. “With this plant we will be able to produce 35 million bottles a year, and we expect that over 50% will go to foreign markets”, he explained. In turn, Ulrich Nebe, CEO of Heinz Holding, commented that the German company is confident that the strategic location of Peru will enable it to successfully enter the Latin American market. “Three years ago we decided to be present in China and Latin America, that“s why we partnered with Ferrand and we are confident that we will continue to grow together,” he said. Mr. Valdez said that demand for glass is growing at a rate of 25% per annum and is expected to maintain this pace.