Volume 48, Issue 9- September 2013

GlobalUpdate
European Glass Industry Helps Spur Growth for Italian Machinery Suppliers
The European Union was once again the top purchaser of Italian glass processing machines, accessories and special products in 2012, according to an industry report published by Gimav – the Italian Association of suppliers of machines and accessories for glass processing.

The study was considerably more favorable when compared to the 2010-2011 two-year period that saw a drop in demand from the European continent that led to the Asian market being the source of the most demand in 2011.

Overall, Italian demand has remained on a downward spiral since 2010, according to the release.

In general, the geographic areas of greatest impact are all of Europe (EU and non-EU), which alone absorbed just under 50 percent of Italy’s exports and regained its title as the number-one destination, thanks above all to recoveries in non-EU countries and a lull in the recession in the Mediterranean countries with Asia tops at 23.1 percent. North America (9.11 percent) and South America (10.33 percent) also showed robust growth last year.

Sangalli Partners with Glasswall Group
The Sangalli Group, an Italian float glass company, has signed a strategic transaction with Glasswall Group (a consolidation of several businesses in float glass production, distribution, processing and logistics in Russia and CIS), that secures equity investments into the company and ongoing financial support. Under the signed agreements, the parties will join their resources to strengthen the financial position of Sangalli Group, expand its presence in the European market and invest into the development and production of the value added glass products.

The Sangalli Group says it intends to use the proceeds from the transaction over the next two years to complete a comprehensive financial and business restructuring that began this year with the aim of creating a solid financial and competitive operating basis that would allow the company to withstand any potential market downturns.

Glaston Receives Large Order From China
Glaston has closed a deal worth approximately $3 million USD with the Chinese company Xianning CSG Glass Co. Ltd. for two flat tempering furnaces: Glaston CHF™ and Glaston CCS900™. The orders are a follow-up to sales of several furnaces installed in various CSG factories over the last five years. The new machines will be manufactured in Glaston’s Tianjin plant and delivered during the last quarter of this year. Orders will be booked on Glaston’s Q2/2013 order book.

 

 


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