Vetropack Group: 2012 profit increase

Vetropack’s consolidated annual profit for the current fiscal year is expected to be higher due to the successful sale of plots of land located in the Bülach Nord district to two non-profit housing cooperatives.

The Vetropack Group is anticipating a higher consolidated annual profit in the current fiscal year. The profit increase of approximately CHF 36 million was not generated through operations, but is the result of the successful sale of plots of land located in the Bülach Nord district and measuring over 40,000 m2 to the two non-profit housing cooperatives Logis Suisse AG and Baugenossenschaft Glattal Zürich. The total selling price has not been disclosed.
The investors plan to develop the industrial area, which has lain abandoned in recent years having previously been home to the former Bülach glassworks, into a multi-purpose site which will include housing, offices, services and leisure facilities.