Bulgarian "Rubin" invests 37m EUR in Serbian glass factory in Paraćin

- The buyer of Serbian glass factory in Paraćin, Bulgarian "Rubin" from Plevene has the obligation, according to the sales contract, to invest 25m EUR in development of that company within next five years, but it intends to invest 37m EUR instead - said the Executive Manager of Glass factory, Aleksandar Đukić.

He said that the Privatization Agency had already issued decision that Paraćin-based glass factory had realized mandatory investment in amount of 7.5m EUR in the first year of work, in accordance with the sales contract.

This initial investment relates to procurement of machines for production of packaging and and purchase of new equipment for compressor station and its renovation.

Đukić reminds that this glass production giant used to have six furnaces, while it now has only two furnaces and that about 5m EUR need to be invested in rehabilitation of production of mechanical-trade glass.

The Factory's management, as Đukić pointed out, is preparing financial structure for restauration of all furnaces in the factory that will be working at full steam all 365 days in 2011.

After two-month break, production of thermos-bottles in Serbian glass factory will be resumed this month, and the whole production is intended for foreign buyers.