Crystal growth for PFG Glass

Date: 21 June 2005
Source: Sabcnews.com

Date: 21 June 2005

The country's premier glass maker, PFG Glass, is to embark on a one billion rand expansion to meet the demands of a pumping South African economy.

The expansion entails the building of a new R700 million plant in Springs east of Johannesburg.

The company, the country's sole glass manufacturer, has an annual production of 140 000 tons a year which is no longer enough to satisfy demand for glass which has surged on the back of strong economic growth.

Stuart Jennings, the company's CEO, says this growth has led to growth in industries in need of glass. "The current GDP growth of around 3% has resulted in buildings escalating and the number of new car sales growing significantly. In addition to that we've had the export programmes which have been very good for our growth and it has necessitated that we increase our capacity," he said.

The building of a new line will increase output by about 100 000 tons per annum and create more jobs. And, if the rand holds at relatively weaker levels, the company is set to grow its R2 billion turnover significantly.
600450 Crystal growth for PFG Glass glassonweb.com

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