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14 August 2020, 14:10

Holding company to unite Belarusian glass industry enterprises soon

MINSK, 14 August (BelTA) – A holding company to unite glass industry enterprises will be established in Belarus soon, BelTA learned from Director General of OAO Grodno Glassworks Yuri Skripko after the government conference hosted by the head of state on 14 August to discuss the operation and ways to increase performance of the civil engineering industry.

The establishment of the holding company was discussed during the government conference. According to Yuri Skripko, the establishment of the holding company is in the final stage. The idea to set up the holding company was prompted by positive examples of mergers of enterprises in other industries. “This is why the matter will be looked into and a decision will be made soon,” the director general said.

As an example he referred to the recent merger of the glass factory in Yelizovo with Grodno Glassworks. “It was quite a high-profile deal but everyone is very pleased two years down the road because the people have shared their best practices, we now buy raw materials at lower prices and have improved our skill of selling the merchandise. All of that has allowed increasing effectiveness by several times,” the head of the company said. “The pooling of competences is the most important benefit.”

The future holding company is expected to unite Gomelglass, Grodno Glassworks (and its Yelizovo-based branch), Neman Glassworks, and Belmedsteklo.

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