The Austrian based glassmaker is taking its first steps on the North American market with the acquisition of the Monaca, Pennsylvania, glass factory from Anchor Hocking Glass Company.
With total of 3100 employees, Stoelzle Glass Group already operates six glass production sites and three decoration sites throughout Europe to serve international customers in four business units: pharmaceuticals, perfumery and cosmetics, spirits, and consumer. The Monaca factory is Stoelzle’s first plant in the United States and the first outside Europe.
Investment and modernization plans
The transaction followed a comprehensive sales process that closed on March 1st, 2021. Financial details and potential impact on production or workforce have not been disclosed. However, the Stoelzle group said it planned to bundle its experts and specialists together with an investment and modernisation programme in the next years to secure sustainable growth.
“We are working on investment plans – the detailed of which are not decided yet; we are estimating the total amount to approximately US $50 million for the next 4 years,” Stoelzle Glass Group CEO, Georg Feith, told Premium Beauty News.
In the short term, Stoelzle intends to continue with the plant current product portfolio which encompasses the spirits, food and consumer products.
However, Stoezle’s intention is to premiumize the product portfolio over the years. To that end, the investments could include the addition of certain decoration…