Rogaska Slatina, 14 September (STA) - Glassworks Steklarna Rogaska inaugurated a new furnace, a EUR 2.5m investment, on Tuesday with Prime Minister Borut Pahor attending the ceremony. Pahor said that this investment in a time of crisis was a sign of a turnabout, as only last year Steklarna Rogaska was on the brink of existence.
The prime minister believes the company owes its survival to its well-known and established brand. The investment is also an indicator of Slovenian economic recovery, Pahor said, adding that companies with a vision will be able to survive.
The prime minister also announced a greater government role in supervision of financial institutions and state withdrawal from certain companies.
General manager of the glassworks Davor Senija explained that the investment is aimed at increasing production capacity and efficiency, improving working conditions and reducing energy costs.
The new furnace will increase production capacity by 14%, which is expected to help boost sales by 10-12% in the coming years.
In the first six months of 2010, the company's sales revenues amounted to EUR 15.7m, compared to EUR 10.6m in the same period last year. Moreover, the company has been operating in the black this year, generating a profit of EUR 1m in the first six months.
The company made generated the most sales last year in Ireland, the US, Italy, Germany and Iran. Sales on foreign markets under the company's own brand stand at 30%.
Senija also said that the completed financial restructuring provided funds for equipment upgrade and future sustainable development of the company which plans to employ 20 to 30 new workers by the end of the year.
Steklarna Rogaska also gave jobs to 80 workers from Steklarska nova glassworks, which was forced to shut down production in August 2009 due to insolvency.