Vetropack buys 75% of Gostomel

Swiss Vetropack Holding has bought 75% of the Ukraine“s Gostomel Glass Factory through its subsidiary, container glass manufacturer Vetropack Austria, it was announced on the website of the Austrian …

Swiss Vetropack Holding has bought 75% of the Ukraine“s Gostomel Glass Factory through its subsidiary, container glass manufacturer Vetropack Austria, it was announced on the website of the Austrian unit on 23 February 2006. The purchase price was not disclosed. With acquisitions of glassworks in the Czech Republic, Croatia and Slovakia, Vetropack has considerably expanded in eastern Europe since the start of the 1990s. Gostomel produces 175,000 tonnes of glass packaging a year for the beverage industry, which corresponds to 15% of Vetropack“s total production. The plant is located near Kiev and employs 900. The Vetropack group, based in Buelach, employed 2,400 at the end of 2005 and produced 900,000 tonnes of glass packaging at its six plants.