Proletar to build USD 40 million float line

Proletar glassworks (Lysychansk, Luhansk region), the Ukraine“s main producer of flat glass, plans to invest UAH 40 million to build a workshop for float glass production, said first deputy head of t…

Proletar glassworks (Lysychansk, Luhansk region), the Ukraine“s main producer of flat glass, plans to invest UAH 40 million to build a workshop for float glass production, said first deputy head of the board, Dmytro Drozhyn. He said that the workshop for float glass production would be placed at the site of the former Lysychansk glass plant that Proletar has acquired. Rebuilding work will have to be carried out on the Lysychansk glass plant involving the restoration of purifiying facilities, replacement of the power grid, and modernization of the boiler and compressor house. A USD 17.8 million float glass line from the Chinese Glass Institute with a daily output capacity of 350 tons will be installed. The production line includes a glass-melting furnace, float tank, lehr, glass cutting system and packing line. Drozhyn said that rebuilding work at the former Lysychansk glass plant should start on 6 May 2005. In 2003, the factory made a net profit of UAH 23.9 million, and increased its income by 10.4% or UAH 15.871 million compared with 2002, to UAH 168.778 million.