New line commissioned at Serbian Glass Factory - Firing up of another furnace scheduled for August 2013

A new technological line worth EUR 4 million, part of which is the B1 furnace, was put into operation at the Serbian Glass Factory in Paracin on Monday.

As it was announced by the majority owner of this plant - Glass Industry, this marks the end of the first phase of investment totaling EUR 23 million. The plan for August 2013 is to fire up another furnace with a three times bigger production capacity.

Srbijagas CEO Dusan Bajatovic pointed out that that company had found a good strategic partner - the Bulgarian consortium Glass Industry.

- The cycle of investment in production has begun successfully - Bajatovic said and added that the amount of investment could exceed the plan and reach EUR 50 million.

A new investment cycle and a social program for employees are in the pipeline, he noted and voiced his expectation that the glass factory would return to its old markets by the end of 2014, primarily to Montenegro, Macedonia, Bosnia-Herzegovina and maybe even to Greece and Albania.

Ivan Dzidzev, a representative of the investor, said that big investments were yet to come and attract many young experts and engineers.

The capacity of the new B1 furnace is 70 tonnes of glass per day, so it will be producing 62.5 millions bottles and jars a year.