Spanish container glassmaker Vidrala plans to invest €500 million over the next five years to modernise its plants.
It has launched an investment plan that will involve the disbursement €500 million which will be used to modernise its facilities by introducing new technologies and environmental improvements, and expanding production capacity.
The group's president, Carlos Delclaux, announced the measure at a recent shareholders meeting in Llodio, Álava, Spain.
The investments will give priority to the most profitable plants: the two in Portugal and the two in the United Kingdom of its British subsidiary Encirc.
Vidrala does not consider new acquisitions, although it will analyze them if interesting opportunities arise. In the past four years, it has bought Encirc and Portuguese rival Santos Barosa.
Vidrala currently has nine factories: three in Spain (Álava, Albacete and Barcelona), two in Portugal, two in the UK, one in Italy and one in Belgium.
By 2019, Vidrala expects sales to increase between 3% and 5%, exceeding one billion euros, thanks to an increase in prices and the improvement of sales volumes in the UK market.
In 2018 it invoiced €955 million. In addition, its net profit will increase double digits and will exceed €125 million.