Funds for the new investment have been provided

Steklarna Hrastnik Glassworks signed an agreement today with NLB on the financing of three fourths of the funds, which the former would need to make a significant investment in the modernization of container glass.

The investment is worth 8 million euros, 75 percent of which will be loaned by NLB, while the glassworks will provide 2 million of own funds.The funds will be used for the renovation of furnaces and the purchase of new, more powerful machines in the Special Unit, where the glassworks produces bottles.After the reconstruction, the life of furnaces will be extended by 10 years. At the same time, the glassworks will also introduce other improvements required by the increase in the production capacities. The modernization work will include maintenance of the closed loop water system, in order to increase and improve the system of wastewater treatment.

With this investment, Steklarna Hrastnik Glassworks will acquire a high degree of production automation and improved technological processes, consequently the glassworks will be further strengthened at the global forefront of niche manufacturers producing technically very demanding bottles.

Andrej Božič, Director-General of Steklarna Hrastnik Glassworks, said at this occasion: »The modernization of production is entirely the result of knowledge of employees in Steklarna Hrastnik Glassworks. With this investment, we can achieve our goals with regard to production capacity, technical specifications and responsible environmental management. "

"NLB actively monitors and provides financial support to the most vital parts of the Slovenian economy, which are, despite an exceptionally difficult situation at home and fierce competition abroad, development-oriented; they have markets, the right products and the corresponding cash flow," emphasized Blaž Brodnjak, a member of the Management Board, at the signing of the loan agreement. "NLB is always interested in co-operation with good companies, such as Steklarna Hrastnik Glassworks, and we are pleased to be able to invest in good projects," he added.

Modernization work will commence on 15 September 2014 and will last until 3 November 2014, when production starts.

600450 Funds for the new investment have been provided
Date: 25 June 2014

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