Zignago Vetro Acquires 79% Of Polish Glass Container Manufacturer

The purchase agreement for the acquisition of around 79% of the share capital of Huta Szkla Czechy (HSC) was carried out on 3 March 2011 for a total price of slightly less than EUR 7M. The purchase was made through a bank financing which does not affect the already low financial debt of the Zignago Vetro Group. HSC is a Polish company, with registered office & manufacturing plant in Trabki, in the Masovia region, not far from Warsaw. In 2010 the company, which has over 300 employees, generated revenues of approximately Euro 14M, an increase of almost 30% compared to 2009, with an EBITDA margin of approximately 11%. The net financial debt of the Company is around EUR 8,000.