Steklarna Hrastnik’s ambitious plans continue
Steklarna Hrastnik to remain under the same ownership and carry on with investments
Steklarna Hrastnik has had a successful year, as evidenced by the operating results – in 2018, the company expects its total revenue to reach EUR 60.2 million (a 4% increase on last year) and its earnings before tax to total EUR 8.7 million (a 13% increase on last year). The anticipated results will be achieved despite the difficult situation in the labour and energy markets.
The company’s potential has led the supervisory board to approve the drawing-up of project documentation for a further expansion of the Steklarna Hrastnik capacities. The project value is estimated at around EUR 45 million. This will enable the company to continue developing and ensure jobs with high added value right there in Hrastnik.
Steklarna Hrastnik’s owner believes in the long-term potential of the company and the Slovenian business environment. Despite high bids from foreign strategic investors, he terminated the process of finding a strategic buyer for Steklarna Hrastnik in early November this year.
“We see the strategy adopted by the new management as an opportunity for further development and growth of Steklarna Hrastnik. The operational excellence of all company processes and the strategic organisation of sales and marketing in foreign markets have a special role in the strategy. The aim is to increase cooperation with globally renowned brand holders. This year we are expecting to achieve outstanding results, which confirms the potential of the direction we have chosen and testifies to the fact that Steklarna Hrastnik was and is a successful company,” said Igor Lah, CEO of GlobalGlass Holding, on this occasion. To ensure a more comprehensive approach to foreign markets, on 12 November 2018 ownership of Steklarna Hrastnik was transferred to GlobalGlass Holding. Established this year in Switzerland, GlobalGlass Holding already provides strategic consulting services, particularly regarding strategic investments and international sales and marketing.
Strategic plans for the development of Steklarna Hrastnik operations in order to reaffirm the company’s leading position in its niche segment are in full swing. “At the moment we are in the engineering stage, the stage of planning a new furnace. The value of the total investment including the start-up of the new production capacities is around EUR 45 million. The project will enable us to create high-quality jobs for our employees and to react faster to market demands,” said Peter Čas, General Director of Steklarna Hrastnik, before adding: “Steklarna Hrastnik continues to have ambitious goals. I am pleased that the owner has recognised us as a company with long-term vision.”