Yioula Group invests EUR 32 M in a glass melting installation at Stirom


The investment project was 60 pc financed from private funds and 40 pc from EU structural fund. In this respect, attending the inauguration event, PM Ponta said the EU funds for private sector will be available in autumn.

Stirom, the only domestic producer of glass containers for food and beverages industries, and taken over by the Hellenic company Yioula Group in 2003, inaugurated on Thursday the glass melting installation which has the latest technology in Europe.
According to Spyridon Vamvakas, General Manager of Stirom S.A., the investment program conducts to a company durable development and to an energy annual saving of 24.67 percent (natural gas and electricity). “We are wholly confident in good organization of Romanian economic and legislative environment, in efficiency of the Romanian State institutions, in our qualified employees and we are convinced that the investment (…) represents a good signal of Romanian industry development too” General Manager of Stirom S.A. said in a press conference.
The investment program was 60 percent financed from private funds, almost EUR 32 million, and 40 percent from EU structural fund through Sectoral Operational Program “Increase of Economic Competitiveness – POS CCE”, Priority Axis 4: Increasing energy efficiency and security of supply, in the context of combating climate changes”. The total value of the investment project is RON 166,365,425.63 and AM POS CCE undertakes to grant a non-refundable financing in the maximum amount of RON 51,528,512.28. The EU contribution is RON 45,345,090.81 and the Romanian Gov’t – RON 6,183,421.47.
“We need success stories, here in the southern part of the country as well and in Bucharest. I am very glad that a company founded in 1967 which was on the verge of being closed down now has 400 employees who have faith in its future. (…) Anyone who creates jobs in Romania and Europe is an ally of the Government of that particular country because nothing is more important for Romania and Europe at the moment than creating jobs and ensuring job stability. I wish to congratulate them for using European funds to modernize production facilities,” Prime Minister Victor Ponta said at the inauguration also attended by Grigorios Vassiloconstandakis, the ambassador of the Greek Republic to Bucharest, and Constantin Nita, Minister of Economy.
The PM announced the Gov’t is in the final stages of drafting the next Partnership Agreement with the European Union for the 2014-2020 fiscal interval and pointed out that the private sector will have access to programs funded through European money unfolded within this timeframe as of this fall.
Stirom distributes under Uniglass brand the tableware range of product made by New Glass, company of Yioula Group. The household glassware includes tumblers and temware (with capacities between 35 and 480 ml), ashtrays, beer mugs, bowl, ice cream bowls, mugs, decanters, etc. made in flint color.
The Yioula Group consists of 6 companies, producing in Hellas, Bulgaria, Romania and Ukraine. “Our 7 contemporary production sites worth 9 fully-automated glass melting furnaces and 33 product shaping lines, manufacture annually more than 2 billion pieces of container glass, 130 million pieces of tableware and 20,000 tons of pharmaceutical glass. Yioula Group also operates a cullet treatment installation, which is located in Serbia and has an annual capacity of 20,000 tons”, Anastasios Voulgarakis Executive Director of Yioula Group said.
In turn, Grigorios Vassiloconstandakis, the Greek ambassador to Bucharest, stated that Greece remains one of Romania’s important investors and has contributed EUR 4 billion so far.