Purchase broadens Zignago Vetro’s production activities
Glassmaker Zignago Vetro has purchased approximately 79% of Huta Szkla Czechy (HSC), a Polish manufacturer of glass containers for the cosmetics and perfumery and food and beverage industries.
The purchase agreement for the acquisition has been executed at a total cost of almost €7 million. Franco Grisan, President and Managing Director of Zignago Vetro and now President of HSC said: “Receiving the parent company’s know-how will permit a comfortable and profitable development for HSC and will allow Zignago Vetro to expand its own production process by integrating manufacturing processes that are currently not being performed”.
In 2010 Zignago Vetro, which has more than 300 employees, generated revenues of approximately €14 million, an increase of almost 30% compared to 2009.