Verallia has confirmed the date it plans to light the second furnace at its Jacutinga, Brazil glass production facility.
The CEO of the French-headquartered container glass manufacturer, Patrice Lucas, said the lighting would take place, as planned, on November 9 this year.
He made the announcement in its latest financial report where they said momentum in Latin America was ‘unprecedented’.
The company invested €60 million in the glass packaging plant expansion.
Revenue growth remained high despite the slight expected decline in volumes due to less available capacity.
The company renovated five furnaces in the second half of the year – four of those in Q3 alone- which limited production capacity.
Overall, revenue was up by 24.5% over nine months at €2,518 million, compared to the first nine months of 2021.
In Southern and Western Europe, sales were up over the first nine months of the year, despite a slight decline in volumes in the third quarter due to the simultaneous renovations of several furnaces.
Northern and Eastern Europe posted improved revenue for the first nine months of the year.
Volumes were, however, also down slightly during the third quarter.
Verallia’s situation in Ukraine remained similar to during the first half of the year: one furnace was emptied and cooled in order to keep it in good condition, while the second is now mainly focused on producing food jars.
In Latin America, the excellent momentum seen during the first half continued in the region, in terms of both volumes and sales prices.
Thanks to higher year-end visibility, coupled with excellent third quarter results, the group has increased its adjusted EBITDA target for 2022 to above €820 million (compared to €750–800 million previously).