Belgian Glass Play

Glaverbel SA, Europe's second-largest glassmaker, raised its stake in Borsky Glass Factory to 44.5 percent from 36.4 percent as it seeks to gain control of the Russian plant, Vedomosti reported Friday.

Brussels-based Glaverbel bought the stake from Alfa Capital Holdings, a unit of Alfa Bank, the newspaper said, citing Vladimir Kolodezny, Borsky's deputy general director.Glaverbel is seeking a controlling stake in Borsky, Russia's largest glassmaker, the paper cited an unidentified person close to the Belgian company as saying.

Glaverbel is building a float-glass plant in the Moscow region, which will start production in December, Vedomosti said, citing Alexander Chesnokov of the Glass Institute in Moscow. Pilkington, the world's largest maker of car windshields, is building the same type of factory in Moscow, he said.

600450 Belgian Glass Play

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