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Steklarna Hrastnik Glassworks to Be Sold

Hrastnik, 12 June (STA) - Steklarna Hrastnik, a maker of high-end glass products, will seek a strategic partner after its majority owner, the fund Ampelus, decided to sell the company, the Slovenian branch of Deloitte consultancy confirmed for the STA on Wednesday.

"I can confirm the company will look for a partner, an investor who will be able to provide growth," said Deloitte's executive director for the Slovenian market Janez Škrubej.

Škrubej would not reveal the details, but he said the sale would be focused on the glass making industry. "We know the industry enough to know who might be interested," he noted.

Steklarna Hrastnik, which makes tableware, container glass and glass for lights, posted sales of EUR 51m last year, up 3% over the year before, while its net profit rose 80% to EUR 1.35m.

It generates more than 95% of revenue with exports, with customers including Hennessy, Finlandia, Bacardi, Villeroy & Boch and Heineken.

The business daily Finance reported today that the company is for sale because it has been successfully restructured and now faces a new investment cycle.

The company's principal shareholder, Ampelus, is controlled by Igor Lah, one of the wealthiest people in Slovenia.

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