Groglass concluded the 2018 with a turnover of €16.4 million euro, total investment of 2.3 million euro in improvement of production capacity.
“Last year was the year of significant changes for Groglass. The management team undertook to further advance Groglass’s growth towards strengthening global market leadership. A five-year strategic development plan is currently in place, based on the aim of doubling the company’s production capacity and diversifying its product portfolio. This will be possible due to the future new production site, as well as competence and professionalism of the Groglass team. Grounds for the company’s ambitious plans were put in place last year, so we expect significant growth from 2019,” stresses Alexander Sasha Kelberg, the founder of Groglass and Chairman of the Board.
In 2018, Groglass invested 2.3 million euro in improvements of technological processes and equipment as well as capacity building of the vacuum plant. Besides, in 2018, the company transformed its marketing and sales function and actively worked on acquiring new customers and markets, that reflected in business results in the second half of 2018.
The Groglass’s strategic development plan foresees significant investments in technology and fixed assets. By the end of 2019, it is planned to open an expanded vacuum plant by upgrading its technology and equipment, that will allow production capacity to be doubled. In addition, Groglass will implement a number of initiatives in the production and supply chain processes in 2019 to improve efficiency.