Investment date: February 1994
The UK’s Pilkington PLC led a consortium in the privatization of Poland’s largest sheet glass and glass conversion factory, HSO Sandomierz in 1993. Under Pilkington’s ownership, the company (renamed Pilkington Sandoglass) constructed Poland’s first float glass plant. The investment was financed with a combination of debt (IFC, EBRD and the Polish Development Bank) and equity. Competing with another greenfield company subsequently by St. Gobain of France and with imports, Pilkington Sandoglass supplied glass mainly to the burgeoning Polish construction and automotive markets.
As of May 2006