Stein Heurtey has announced the acquisition of 65% of the shares of the UK company Penelectro, which produces electric melting furnaces and subsidiary equipment.
Belgium-based Stein Heurtey says the …
Stein Heurtey has announced the acquisition of 65% of the shares of the UK company Penelectro, which produces electric melting furnaces and subsidiary equipment. Belgium-based Stein Heurtey says the deal, completed on September 23rd 1999, will widen its product range in the field of electric furnaces and boosters. Located close to Southend-on-Sea, in southeast England, Penelectro works predominately on the design of new electric furnaces, the re-design/rebuild of existing furnaces and boostings systems for producing a wide range of glasses, including: containers; glass for insulation purposes; soda lime glass for perfumery ware; barium potassium glass for tableware; 24% & 30% lead crystal glass for table and giftware, neutral borosilicate glass for medical purposes (vials & ampoules) and sodium silicate glass. In conjunction with this work, the company has also designed a number of other ancillary systems and various standard and custom-designed equipment, from cold top furnace vibratory batch chargers to flow drains and bubbler systems. The Stein Heurtey group declares a turnover of Euros 40 million in the glass industry and comprises the following companies: Stein Heurtey, Stein Atkinson Stordy, BH-F and Belgium Glass Equipment According to a statement from the group, newcomer Penelectro will benefit from Stein Heurtey“s sound financial situation, from its investment capacity, research and digital modelling facilities, and international network of subsidiaries and branch offices.