The Vetropack Chișinău Glass Factory was founded in 1995 as Glass Container Company due to growing demand from wine producers in the region. In 2020. Glass Container Company and Glass Container Prim became part of Vetropack Holding AG. Since March 2022, they have been operating under the name Vetropack Chișinău.
The increased price of energy resources in Moldova could not but affect the activity of the glass manufacturer. Boris Crivoi, director of Vetropack Chișinău, told Logos Press that after the gas transit through Ukraine was stopped, starting from January 1, 2025, Moldova will no longer receive electricity generated by the MGRES in Transnistria. While the price of electricity for households was increased by 75%, for a company that buys electricity while connected to high-voltage grids – by 96%.
“The cost of our products, as a result of direct and indirect price increases by our suppliers, has increased by a double-digit percentage. For this reason, all the indicators included in the company’s budget became unrealizable overnight. One of the administration’s primary objectives was to identify reserves that would mitigate the negative impact of higher electricity prices on our customers. We do not seek to shift the entire burden of rising costs onto their shoulders. In the process of negotiations, we explain our options and find a golden mean, including due to the fact that we take a part of losses on ourselves,” Mr. Crivoi noted.
In this regard, the question arises – how competitive are these products compared to similar products from producers in neighboring countries, because imports come from there? According to the interlocutor, due to the regional energy crisis, in some markets Vetropack Chișinău has reduced its sales volumes or focused on exclusive containers. However, the company is convinced that the consumption of resources at market prices contributes to identifying improvements in production, as well as reserves, which allows it to maintain its competitive position.
“We hope to keep sales levels on track despite uncertainties, including those coming from the US tariff policy,” says Boris Crivoi. – The effect of this factor is still difficult to even calculate. We export approximately 60% of our products, of which 90% are exported to the West. Deliveries have not only remained the same, but in most countries have increased compared to the same period last year. Our company’s goal is to be a competitive strategic supplier of quality glassware. Therefore, we are looking for opportunities to reduce our costs by identifying alternative suppliers, increasing the efficiency of the production process, saving resources (especially energy, which is a large share of our production), training and incentivizing staff, diversifying the range of finished products offered to current and potential customers”.
The financial report of Vetropack Group (it includes plants in Austria, Switzerland, Czech Republic, Slovakia, Croatia, Italy, Moldova and Ukraine) for the last year shows the sales volume by plants in different countries. Net sales of VG glass plants in Moldova and Ukraine amounted to CHF 70.6 million, which is 16% less than in 2023. The total for the group – CHF 842.1 million.
The best joint result of the Ukrainian and two Moldovan companies in the last five years was in 2021 – CHF 113 million, then it went down. But the worst one was registered in 2020. – CHF 58 million.
Vetropack Chişinău JSC has a share capital of 408.9 million lei, Glass Container Prim Plus – 204.6 million lei. They employ about 500 people.
