Hunguard Glass: Upgrades Due For Completion End-2004

Hungarian float glass manufacturer Hunguard Glass Kft, plans to complete its EUR 55.8M ($68.3M) development project launched in September 2003 by the end of 2004, it was reported on 23 July 2004. The aim of the project is to increase daily output from the current 500 tonnes to 550 tonnes and raise the firm's annual revenue by 10%. For 2002, the company posted revenue of HUF 15BN ($74.2M) It exports 70% of its production to markets in Europe and sells the remaining 30% in Hungary. Hunguard is owned by Guardian Industries Corp., which is one of the world's largest manufacturers of float glass and fabricated glass products. The Hungarian firm was set up in 1991. It has a registered capital of over HUF 6.1BN ($30.2M)