Serbian state-owned Srbijagas has sold its 63.6% stake in Srpska Fabrika Stakla AD (SFSP) to Rubin AD, a Bulgarian glassmaker, for €35 million.

According to reports, the Bulgarian buyer will invest an additional €22 million over the next year to expand production of glass packaging; mainly beer bottles, in the facility in Paracin, 155km South of Belgrade. It plans to triple the output within a year to 120,000 tons of glass per year.