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Vidrala to invest EUR 45 million at Marinha Grande

Spanish glass container manufacturer Vidrala SA plans to invest EUR 45 million (USD 54.3 million) in the upgrading of its production plant in Marinha Grande, central Portugal, Portuguese economy porta…

Spanish glass container manufacturer Vidrala SA plans to invest EUR 45 million (USD 54.3 million) in the upgrading of its production plant in Marinha Grande, central Portugal, Portuguese economy portal Agencia Financeira reported on 12 January 2006. The modernisation, involving the construction of a new 50,000 sq m warehouse and the upgrading of the plant“s electrical systems, is planned to be finished by the end of the 1Q 2007. The investment is aimed at increasing the production capacity of the Marinha Grande plant. The project is part of Vidrala“s strategy of investing EUR 175 million (USD 211.2 million) in the modernisation of its plants over the three-year period 2004 to 2006, the company“s chief financial officer (CEO), Jon Ander de las Fuentes, said. Vidrala operates five plants in Spain, Portugal and Italy. Vidrala bought Marinha Grande plant in 2003 for EUR 19.5 million (USD 23.5 million)., The plant was previously owned by Portuguese glass maker Ricardo Gallo. Currently, Marinha Grande is the second largest glass container plant on the Iberian peninsula market.

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