India's largest glass containers manufacturer Hindustan National Glass & Industries (HNG) plans to invest around 7 million euros in its newly-acquired German subsidiary HNG Global GmbH to make it one of the most advanced production centres for glass containers in Europe.
The Kolkata-based company's purchase of the assets of the insolvent German company Agenda Glas AG in Gardelegen, in the state of Saxony Anhalt, is an important building block in the firm's global expansion plans, its Vice Chairman and Managing Director Mukul Somany told PTI.
It has given the company a foothold in Europe, where the marketing opportunities are great for a wide range of glass bottles it makes for a variety of industrial use, he said.
Somani said immediate task is to stabilise the operations of Agenda Glas AG, which was threatened with bankruptcy.
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