Portuguese glass packaging manufacturer Sotancro is currently considering the acquisition of a second plant in Spain, it was reported on 6 April 2005. The company has signed a contract with Spanish glass container maker Crisbisbal for the rental of production facilities. The contract is expected to evolve into the acquisition of Crisbisbal, Sotancro chairman Silva Rodrigues, said. Sotancro had earlier acquired a 50% stake in Spanish glass container manufacturer Vidriera del Atlantico for around EUR 6.0M. In comparison, Vidriera del Atlantico's annual sales are around EUR 10M. Apart from Vidriera del Atlantico's production facilities, Sotancro currently operates a production unit in Venda Nova, in the Municipality of Amadora, central Portugal. Sotancro reported a net profit of EUR 1.2 million (USD 1.6 million) in 2004 compared to EUR 1.5 million (USD 1.9 million) for the previous year. The company generated revenue of EUR 45 million (USD 57.96 million) in 2004, up 13% year-on-year. Sotancro's earnings before interest, tax, depreciation and amortisation (EBITDA) for the said period totalled EUR 8.7 million (USD 11.21 million), a year-on-year decline of 3.0%.
