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Star Glass to acquire glass melting furnace

25 February 1999: Romanian glass manufacturer Star Glass intends to invest US$ 250,000 this year to acquire a glass melting furnace, a recent press report has said.
It said the company, based in Tirg…

25 February 1999: Romanian glass manufacturer Star Glass intends to invest US$ 250,000 this year to acquire a glass melting furnace, a recent press report has said. It said the company, based in Tirgu Jiu, north-west of Bucharest, had already put 350 million lei into new equipment. Star Glass, privatised through a worker-management buyout, had a net profit of 1.7 billion lei in 11 months of 1998 on turnover of 26.8 billion. The company, which trades on the RASDAQ over-the-counter market, has a share capital of 5.6 billion lei, in shares with a nominal value of 1,000 lei each. Sticla Glass employees hold 39% and other individual stockholders have the rest.

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