Zignago Vetro buys 79% stake in glass maker Huta Szkla Czechy
Polish acquisition to broaden Italian producer\'s offer in Europe
Italian glass manufacturer Zignago Vetro has announced the acquisition of a 79% of the share capital of Huta Szkla Czechy (HSC), a Polish manufacturer of glass containers for the cosmetics and perfumery industry. The deal was completed for just under €7m, the company has revealed.
HSC, which is based in Warsaw, is seen to be located in a geographically strategic area, both due to the potential for the Polish market and because of its location in between the traditional EU markets and the other fast growing eastern European markets.
Franco Grisan, managing director of Zignago Vetro comments: “This transaction is fully consistent with our strategy to grow both organically and by acquisition to increase our flexibility with a view to broadening our offer and our reference markets.
“This will permit a comfortable and profitable development for HSC and will allow Zignago Vetro to expand its own production process by integrating manufacturing processes that are currently not being performed. These new synergies between companies of the Group and the direct presence in markets that are very interesting for us, will increase the value of our company.”
