Poland-based plastic film producer Ergis group will launch a second PET film production line and acquire a new plastic packaging line in Southern Poland.
The company will acquire the packaging line for its Plexergis subsidiary in Nowy Sacz.
Ergis chief executive Tadeusz Nowicki said: "A very good first half of the year has just passed; we achieved excellent financial results - net result for that period is better than that recorded during the entire 2013.
"The significant increase in profitability primarily follows from launching the sale of the innovative nanoERGIS stretch film and reorganisation in the rigid film segment."
Nowicki added that the company is eyeing investment in the second line for the production of Greenstrap (PET tape) and will also acquire another line for the production of flexible printed packaging in Flexergis.
Considered to be leaders in plastics processing in central and eastern Europe, the company's revenue for 2013 exceeded €159.93m.
In the first six months of 2014, the company made a net profit of €2.9m, which it claimed was a seven-fold increase compared to the same period in 2013.
Four of the company's six production plants are located in Poland, while the other two are in Germany. The company primarily deals with the production of food packaging (PVC- and PET-based films and barrier laminates, printed multilayer laminates) and industrial packaging (LLDPE stretch films and PET tapes).
Other Ergis products include films for medicines packaging, hydro-insulation films and PVC compounds.
