Vidrala recently announced that it expects France to account for 25% of its sales compared to 18% at present, following the recent acquisition of Belgium's La Manufacture du Verre. "We are seeking a better commercial strategy in France, & although we won't produce directly there, thanks to the acquisition we will have 4 plants close to the country", said company president Carlos Declaux after the shareholder meeting in Bilbao. Vidrala announced in June 2007 the signing of a memorandum of understanding to acquire La Manufacture du Verre, Belgium's only glass container maker, for EUR 35M. Vidrala managers said they expect the operation to close completely in August. The Belgian firm recorded turnover of EUR 46.2M in 2006 and expects sales in 2007 of EUR 50M and EBITDA of EUR 5.1M.
