M.Agostini: BRL 5 million investment for thermos plant

Brazil“s M. Agostini, best known for its Aladdin thermos bottles, has announced investments of BRL 5 million in 2005 at its Rio de Janeiro-based plant. The sum will go to pay for part of the moderniz…

Brazil“s M. Agostini, best known for its Aladdin thermos bottles, has announced investments of BRL 5 million in 2005 at its Rio de Janeiro-based plant. The sum will go to pay for part of the modernization, automation and capacity expansion of the plant. The upgrades started in 2004 when the company invested BRL 6 million, BRL 4.5 million of which went on the refurbishment and expansion of the glass melting furnace which resulted in a 20% increase in production capacity, currently of 14 million thermos bottles a year. The main investment in 2005 (BRL 3 million) will be on logistics, reorganization of production lines, machinery and equipment acquisition and new molds. By June 2005 the company expects to launch 12 new items including jars and pots. In 2004, the Aladdin thermos bottles represented 80% of M. Agostini“s income, which grew 9% to reach BRL 76 million. Sales grew by 6% and exports, which account for 17% of turnover, rose by 22%. The company entered markets such as the UK and Japan, and resumed sales to Argentina. M. Agostini leads the Brazilian thermos bottles market with 44% of the market. Its closest rivals are Termolar and Invicta. The Brazilian market is estimated at 15 million thermos bottles per year.