Srpska Fabrika Stakla, Serbia’s only maker of glass packaging, founded in 1907, has been sold to Glass Industry of Bulgaria, by the state-owned gas company Srbijagas.
Srbijagas, Serbia’s state-owned gas company, has reportedly completed the sale of Srpska Fabrika Stakla AD, the country’s only maker of glass packaging, to Glass Industry of Bulgaria.
The Bulgarian group agreed to buy 64% of the glass plant for EUR 35 million in March 2012, and invest at least EUR 22 million to upgrade the plant in Paracin, 155 kilometers south of Belgrade, tripling its annual output to 120,000 tons.
Srpska Fabrika Stakla is involved in the production and commercialization of hand-made tableware, including glasses, stem glasses, mugs, drink and preserves sets, candlesticks and lamps, catering glassware, bowls, dishes, and bottles. Its product range also includes machine-made tableware glass products that are used in hotels and restaurants, as well as in household applications; and optical and technical glasses. The company was founded in 1907 and is based in Paracin, Serbia.