Star Glass To Acuqire Glass Melting Furnace

Romanian glass manufacturer Star Glass intends to invest US$250,000 this year to acquire a glass melting furnace, a recent press report has said. It said the company, which is based in Tirgu Jiu, northwest of Bucharest, had already put 350m lei into new equipment. Star Glass, privatized through a worker-management buyout, had a net profit of 1.7bn lei in 11 months of 1998 on turnover of 26.8bn. The company, which trades on the RASDAQ over-the-counter market, has a share capital of 5.6bn lei, in shares with a nominal value of 1,000 lei each. Sticla Glass employees hold 39% and other individual stockholers have the rest.