Italian-backed glass maker PGWM will invest EUR 1.36 million (USD 1.9 million) over the next five years to launch operations in Moldova“s largest free economic zone, Ungheni-Business, the Moldovan Ec…
Italian-backed glass maker PGWM will invest EUR 1.36 million (USD 1.9 million) over the next five years to launch operations in Moldova“s largest free economic zone, Ungheni-Business, the Moldovan Economic Ministry said on 20 July 2007. PGWM wil produce glass for windows, doors and packaging. It will invest EUR 330,000 in production in 2007, the ministry said in a statement. It added that PGWM will sell its output on the domestic market, in the Ukraine and Russia, and expects annual sales of up to EUR 3.2 million . The company, which will employ 40, plans to start operations in October 2007. Ungheni-Business, located in western Moldova, is the largest among the six free economic zones in Moldova. It has a 63% share in the total industrial output of the country“s economic zones. Thirty-eight companies are registered in Ungheni-Business.