The construction of a new float glass line at the Glaverbel Group production facility in Moustier, Belgium, is the fruit of a 50/50 joint venture investment agreement between the Belgian glassmaker and the glass processing group Scheuten Glasgroep, based in Venlo, The Netherlands. The line, due to come on stream by the 3rd quarter of 2001, will be the fourth at the Moustier site and will help both partners to meet the demands of their respective markets. Scheuten acquired its 50% stake in the project with an investment of around Euro 47m. Under the terms of the agreement, signed on 23 November 2000, Glaverbel will be responsible for the operational management of the line, while output will be shared equally between the two companies. The project is expected to create around 60 jobs.
