HNG to invest €7 mn in HNG Global GmbH

Posted By: Religare
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HNG to invest €7 mn in HNG Global GmbH
Hindustan National Glass & Industries (HNGI), Indian based glass containers maker has recently mentioned that the company has planned to invest nearly €7 million in its recently German acquired company HNG Global GmbH. Its German subsidiary will be heading towards becoming the most advanced production centres for glass containers in Europe by this investment plan.

Previously, the company has purchased assets of the insolvent German company that will help the parent firm its foothold in the international markets. Besides, its production capacity of 320 tonnes per day of glass bottles for the alcoholic and non-alcoholic beverage industries will add to its volume.

Further, synergies of its location at the heart of Europe will HNGI enable to serve the markets in Germany and in neighbouring countries and to expand to the rapidly growing markets in central and eastern Europe.

Read more about: hng, bse, nse
Story first published: Monday, May 23, 2011, 9:31 [IST]
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