Siberia’s SibSteklo set to construct furnace in October
Siberian container glass manufacturer SibSteklo is set to start construction of a furnace in October.
Design has been entrusted to the Italian company Glass Service, while experts from the UK, Germany, the Czech Republic and Turkey have been invited to oversee construction work.
CEO of the Novosibirsk-based company, Pavel Bobosik, said the company had increased its output from 470 to 597 million containers a year in 2019, after several years on investment and quality.
Revenues increased from 2.8 billion to 3.68 billion while it also achieved savings in fuel and energy resources, improved the organization of the glassmaking process.
The EBITDA of the glass container business in 2019 was 750 million rubles ($10.6 million) - 42% higher than in 2018.
The company had planned to start construction work earlier but it had to be postponed due to coronavirus.
Five forming machines will be installed and the factory’s capacity should increase to 720-740 million items, with an estimated EBITA of 1.250 billion rubles ($17.6 million).