Volgograd Insulating Glass Plant plans to increase capacity by 76 percent with the help of FRP loan

The Expert Council of the Industrial Development Fund (IDF) has approved a loan for MG LLC (Volgograd, production of insulating glass units under the Masco glass brand) to expand production capacity, according to FRP.

The total budget of the project is 110.1 million rubles, of which 73.9 million rubles can be provided by the IDF in the form of a concessional loan.

"With the attraction of a loan from the FRP, the enterprise will increase labor productivity by 40% in the production of architectural double-glazed windows. The production capacity will increase by 76% - up to 230 thousand sq. M. Of products per year," the statement says.

The company will use the modernized equipment to produce tempered glass insulating glass units, glass products with complex geometric shapes, triple laminated glass units and glass products with colored ceramic printing. The level of product localization will be 100%.

The new production line, in addition to increasing the production volume, will help to reduce the production time of one product from 17 to 10 minutes and reduce the time for washing products after processing from 3 to 1.5 minutes.

The main customers of double-glazed windows are developers of residential and commercial buildings.

According to the analytical system SPARK-Interfax, MG LLC was registered in Volgograd in 2015. The main activity is the formation and processing of flat glass. In 2020, the company increased its sales revenue by 7.2% to RUB 1.5 billion. Net profit increased 2.3 times to RUB 82.9 million.

The beneficiary of the company is Alexander Malashkin, who also owns a 50% stake in Volma Group, the largest Russian manufacturer of gypsum and cement-based construction and finishing materials.

According to the information on the company's website, the company's products are manufactured at seven sites located in Moscow, Krasnodar, Rostov-on-Don, Volgograd, Saratov, Stavropol and Pyatigorsk.

Source: https://www.interfax-russia.ru/