6.6 C
London
Monday, January 30, 2023
Banner
Filtraglass
Banner

Hungary: glass container maker“s EUR 4.9 million upgrade

Hungarian jar and bottle maker Egyesult Magyar Csomagolouveg Kft has announced the complete renovation of its production facility located at Oroshaza (southeast Hungary). The company has invested arou…

Hungarian jar and bottle maker Egyesult Magyar Csomagolouveg Kft has announced the complete renovation of its production facility located at Oroshaza (southeast Hungary). The company has invested around HUF 1.2 billion (EUR 4.9 million) in the upgrades, Managing Director Marcello Montisci said at a press conference on 11 March 2003. Egyesult Magyar Csomagolouveg covered the costs of the almost one-month long renovation process entirely from its own resources, he added. The jar and bottle factory will produce more than 320 million items in 2003, equivalent to 2002“s production, due to the January 2003 closure of the plant for upgrades. Montisci said that 80% of the plant“s output will be sold to bottling factories in the Hungarian market. The remaining 20% will be exported to neighboring countries such as Romania and Serbia. Egyesult Magyar Csomagolouveg posted profits of 12% on sales of HUF 7.2 billion in 2002. According to the managing director, 2003 will see similar revenues. The company is a 100%-owned subsidiary of US-based Owens Illinois Company which operates in 140 locations worldwide.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Related news