[Moldova] Italian Company Invests In Bottle Output

Italian-based Glass Galone Special will invest around US$2.6M in 2009 to begin production of glass bottles in Valkanes, one of Moldova's six free economic zones, the country's Economy Minister announced early March 2009. The company will invest the money in production equipment and in the construction of facilities on a one hectare site, creating 40 jobs. Glass Galone Special expects net sales of the new production unit to reach up to 4M/Europe per year. It will sell some 30% of output in Moldova and will export to Russia, Ukraine and EU countries, the ministry said. The Valkanes zone is located 200km southwest of Moldovan capital Chisinau.