“Experimental Glass Factory”, which is owned 75% by French ARC International, will reportedly receive EUR 25 million credit for modernization, increasing production, expanding products, as well as the implementation of new energy efficiency programmes.
The European Bank for Reconstruction and Development (EBRD) Ltd. will provide the “Experimental Glass Factory” (NEOs), located in the town of Gus Crystal Vladimir region, EUR 25 million credit, according to a financial organization.
The raised funds will be spent on modernization, increasing production, expanding products, as well as the implementation of new energy efficiency programmes.
The total project cost is estimated at EUR 54 million.
In October 2011, French ARC International acquired a 75% share of “Experimental Glass Factory” to create a joint venture to produce glass.
“Experimental Glass Factory” is a major Russian manufacturer of glassware for the beverage, food and fragrance industry. The company also produces handicrafts and souvenirs in handmade stained glass. The plant was part of Gus’ Stekloholding “.
ARC International is the leader in sales of glass tableware products in Russia and CIS countries and holds 32% of the market. The Group operates in the catering, hotel and restaurant business markets under the brands: Luminarc, Arcoroc, Cristal d’Arques Paris, Chef & Sommelier.