Swiss glass packaging manufacturer Vetropack has signed an agreement to take over a glassworks in Chișinău ,Moldova.
Vetropack said the addition to the group, which comprises two separate operational units (Glass Container Company and Glass Container Prim), will enhance its market position in Central and Eastern Europe.
Johann Reiter, CEO of the Vetropack Group, said: "With this acquisition, we continue to expand in a region with which we are very familiar – a region where we have almost three decades of glassmaking experience."
The Chișinău glassworks produces approximately 100,000 tonnes of glass packaging annually for the food and beverage industry, sold domestically and for export.
It employs around 450 members of staff and generated a turnover of €40 million in 2019. The acquisition is expected to be closed in November 2020.
Vetropack has production facilities as well as sales and distribution offices in Switzerland, Austria, the Czech Republic, Croatia, Slovakia, Ukraine and Italy.