Production will be restarted at Owens Illinois“ Oroshaza, Hungary-based blown glass factory this month. The upgrading of the plant“s production lines cost US$ 5 million, and was only a part of a US$…
Production will be restarted at Owens Illinois“ Oroshaza, Hungary-based blown glass factory this month. The upgrading of the plant“s production lines cost US$ 5 million, and was only a part of a US$ 12-million development project of Owens. Though revenues of the Owens interest are likely to dwindle to US$ 21.3 million this year, an US$ 8 million drop from last year“s results, the company aims to boost sales to US$ 23.9 million in the year 2000 mainly by increasing its export volume. According to official sources, Egyesult Magyar Csomagolouveg (EMCs) Kft, fully owned by Owens Illinois Co., has had liquidation processes initiated at several of its debtors, which owe EMCs several hundreds of millions of forints.