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Global Glass takes over Serbian Glass Factory in Paracin

Paracin, 2 December 2022

Prime Minister Ana Brnabic visited today, together with the new owners - representatives of the Swiss-Slovenian consortium Global Glass, the Serbian Glass Factory in Paracin and announced investments of more than €300 million in the next six years and an increase in the number of employees.

Brnabic pointed out that the state fulfilled its promise to find a strategic partner for this former Serbian giant, which now has a secure future and great potential.

According to her, it was a difficult and complex process because the factory was in bankruptcy, with huge debts, and an additional problem in finding an investor was the fact that the factory was not owned by the state.

The recovery of the Serbian Glass Factory was an important issue for the Serbian government since until now we have imported all glass and glass packaging, she said and explained that our entire economy had this problem, which will be solved with this investment.

Investments of more than €300 million are planned for next six years, and as of 1 January, all employees will be transferred to the Serbian Glass Factory company, the Prime Minister specified.

She voiced hope that there will be an additional increase in wages, as well as an increase in the number of employees to some 700, 750 people, because there is capacity to become a regional leader and exporter of glass that will dictate market conditions.

President of the Board of Directors of Global Glass Igor Lah said that the plan is to produce up to 1,400 tons of glass per day in the Serbian glass factory from 2028.