30 October 1997: On 15 October, a new mirror production line came into operation at Hunguard Floatglass Kft, the Hungarian unit of Guardian Industries of the United States.
The event, at the Hunguard…
30 October 1997: On 15 October, a new mirror production line came into operation at Hunguard Floatglass Kft, the Hungarian unit of Guardian Industries of the United States. The event, at the Hunguard plant in Oroshaza, was attended by Hungary“s Minister of Industry, Trade and Tourism Szabolcs Fazakas. New equipment for the line was transported from Guardian“s Spanish plant to the Hungarian factory and has been renovated and modernised by Hungarian experts. The development, which was started in 1996, will raise the number of employees from the current 370 to around 400. The Hungarian Glass Industry Works and Guardian Industries of the United States set up the joint venture with registered capital of US$30 million in 1988. The plant was turned into a float glass factory with a US$125 million investment and production started in February 1991. Production capacity at Oroshaza totals 500 tonnes of 1.7-10 mm glass a day. In 1996, Hunguard had net sales of Ft8.084 billion, forecast to rise to Ft9.4 billion this year. 30% of company products are sold on the domestic market; 45% in neighbouring countries and 25% in Western Europe. Company imports, however, amount to around 20%, with over 80% of raw materials purchased in Hungary.