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Investment

USD 60 million was invested in a bottle furnace

February 6, 2012 by Mariano Zalazar | in Latest news, News

Verallia Argentina has made one of the greatest gambles over the past few years. The new furnace will be operating between May and June.

Aiming at growing the production capacity by 50%, Verallia Argentina, devoted to the glass container supply, invested USD 60 million in the building of a furnace for the production of glass bottles, which according to company’s authorities will be working between May and June of this year.

Gas and electricity

Undoubtedly, the operation of a large-scale furnace requires a significant increase in the electricity and gas consumption. For this reason, the investment of USD 60 million provided for improvements in the electricity transformer station and in a new gas piping installation.

A great stake

In spite of the difficult situation the bottled wine industry is going through, Verallia shows, by means of its third furnace building, that it remains optimistic regarding market evolution.

“This kind of investment requires a long-term assessment, beyond the moment in which it is made. When wine industry is considered under this perspective, the balance is definitely highly positive”, commented Walter Formica, general director at Verallia Argentina.

Argentine viticulture’s figures registered in the last decade are sufficient evidence of the growth bottled wine has experienced in the world context, according to Verallia’s general director.

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