Greece“s PAP Safety Glass is currently investing EUR 1.8 million (USD 2.2 million) in its production facilities in the industrial area of Sindos in Thessaloniki, northern Greece, it was reported on 1…
Greece“s PAP Safety Glass is currently investing EUR 1.8 million (USD 2.2 million) in its production facilities in the industrial area of Sindos in Thessaloniki, northern Greece, it was reported on 17 March 2004. The company is investing to upgrade equipment as well as build new warehouses for raw materials and products at a cost of EUR 800,000 (USD 982,000). The investment, which is fully financed by the company, will be completed in 2004 said the company“s managing consultant, Panagiotis Papadopoulos. In addition, the company has started a EUR 1 million (USD 1.22 million) investment in the production of silk screened glass. The investment is partially subsidised within the framework of the Greek Development Ministry“s Business Competitiveness Programme (EPAN) and is to be completed within the 1H of 2004. PAP Safety Glass ended 2003 with a turnover of EUR 3.5 million (USD 4.3 million) up from EUR 3.0 million (USD 3.7 million) for 2002. The company“s pre-tax profit reached EUR 420,000 (USD 515,000). PAP Safety Glass was set up in 1997 to manufacture and provide all kinds of safety glass products, including armoured glass, for the Greek market.