Investments of 5m euros in state company

The state-owned company “Fabrica de sticla din Chisinau” (Chisinau Glass Factory) this year will invest about 5 million euros in its infrastructure. The decision was announced at a meeting that considered the company’s draft business plan, Info-Prim Neo reports, quoting a communiqué from the Ministry of Economy and Trade. The money will be used to reconstruct the glass melting furnace and to repair certain equipment. The sum planned for this purpose includes own means and money borrowed from banks. During 2006-2008, the investments in “Fabrica de sticla din Chisinau” totaled 68.7 million lei. 76% of this sum were own resources. In 2006, the glass melting furnace from the production section was reconstructed according to a new project. This enabled to save about 30% of the energy resources, the quoted source said. Also, last year the factory managed to collect resources and bought packing equipment worth about 20 million lei from the Italian firm EMMETI. It allows packing bottles much more efficiently. IS “Fabrica de sticla din Chisinau” is the largest glassmaking company in Moldova. It was registered as a state-owned company in 2002 on the basis of the property transferred by the joint stock company “Fabrica de sticla din Chisinau”. In 2008, the company made a net profit of 16.7 million lei, up about 5.5 times from 2007. The factory’s products are exported to about 15 countries, especially Rumania, Bulgaria and Russia.