Hindusthan Glass expects German arm to be back in black this fiscal

The Rs 1,900-crore Hindusthan National Glass & Industries Ltd’s (HNG) expects its fully-owned German outfit, Agenda Glas — now renamed HNG Global —to break even this fiscal.

The Kolkata-headquartered container glass-maker acquired Agenda Glas for €40 million (Rs 276 crore) in 2011.According to Laxmi Narayan Mandhana, senior vice-president and chief financial officer, HNG invested an additional €12 million (Rs 83 crore, at current exchange rate) to remove bottlenecks and improve operational efficiencies at the German unit.“Following additional investments and improvement in operational efficiencies, we are hoping the German unit will break even by the end of this fiscal,” Mandhana told Business Line."body">Read more here.

600450 Hindusthan Glass expects German arm to be back in black this fiscal glassonweb.com

See more news about:

Others also read

The Emirates Arena and Sir Chris Hoy Velodrome have just been completed, creating a new world class sporting landmark for Scotland.
Hawaii and Texas Top List of 20 States and D.C. Adding Construction Jobs Since November 2011 as Delaware and New York Trail; Vermont and Louisiana Led 19 States with One-Month Gain, D.
The United States is honoring its role, to the best of its ability, as the world's locomotive, although despite the positive performance of the real estate market, America seems to be recovering slower than expected.
We sincerely thank all our members, friends and visitors for being part of GlassOnWeb and its success during 2012.
SAGE Electrochromics, Inc., a world leader in the development and manufacture of dynamic glass, located in Faribault, Minn., today announced it has filed a lawsuit in U.S.
The EBRD is providing loans worth €110 million to Turkish glass manufacturer Trakya Cam A.Ş. that will expand its product range at home and in Bulgaria and also establish a presence on the Russian market, setting new standards in energy efficiency.

Add new comment