Luminor Bank has financed one of the largest glass processing companies in Latvia, SIA Glāzeri BT, providing 2.7 million euros in funding for the company’s business development and current assets. The company plans to improve its production line by acquiring a modern glass tempering furnace and enhancing its operational efficiency.
“Glass processing is a very specific industrial sector, and we are happy to see the strong determination of SIA Glāzeri BT to develop and improve. By acquiring more modern and environmentally friendly machinery, Glāzeri will further increase their export potential. We are very excited to support this local business on its growth path,”
saysIlze Zoltnere, Head of Luminor Corporates Department in Latvia.
Glāzeri BT offers a full glass processing cycle and a wide range of products from household glassware to complex glass structures and glazed facades. With their technology and equipment, the company is able to provide glass cutting, processing, digital printing, painting, hardening, lamination, and other services.
“The company has more than 20 years of experience in the market. By following the latest in glass processing, we’ve become as a reliable partner for our customers and work with a high production capacity. We export a large part of our production and understand that in order to maintain our market positions, we must always keep up with the global trends and develop our offer accordingly. The funding provided by the bank will allow us to further improve our production process,”
says Ziedonis Buivids, Chairman of SIA Glāzeri BT Board.
The company’s customer base includes manufacturers of tempered glass constructions and railings, manufacturers of furniture, windows and glass facades, glass processing companies, as well as individuals. SIA Glāzeri BT uses glass from the world’s leading manufacturers for production and sales purposes.
SIA Glāzeri BT was founded in 1998. The family-owned, local capital company owns one of the largest glass processing plants in Latvia. In 2017, the company started operating in a newly built production facility in Piņķi, which was constructed with support from the Central Finance and Contracting Agency (CFCA). The company’s main customer is the construction industry.
Luminor is the leading independent bank in the Baltic States and the third largest financial services provider in the region. We provide financial services to individuals, families, and businesses. Just like our home markets of Estonia, Latvia, and Lithuania, we are young, dynamic, and forward looking.
