Further to yesterday's announcement, Frigoglass provides additional information regarding the formation of a joint-venture in the Philippines with Unimagna.
Unimagna is a leading producer of coolers in the Philippines, with a strong presence in the local beverage market since 1988. The new company will be owned 51% by Frigoglass and 49% by Unimagna, and will be formed with equity capital of euro 1.5 million. The joint-venture is expected to become EBT positive by 2010.
Initial sales will be supported by Frigoglass' other Asia plant facilities, with technical and after-sales services to be provided by the existing Unimagna network.
The initiative is driven by the expected strong demand in the region, with the Philippines representing one of the most significant markets for Coca-Cola in volume terms. In addition, it builds on a previous successful working relationship between Frigoglass and Unimagna and is expected to support the local beverage market demand for more sophisticated ICM solutions.

INQUIRIES
Company Contacts
Lillian Phillips
Investor Relations Manager
Tel: +30 210 6165757
E-mail: lphillips@frigoglass.com
Polina Atmatsiadi
Investor Relations Analyst
Tel: +30 210 6165767
E-mail: patmatsiadi@frigoglass.com

European Contact
Greg Quine
Financial Dynamics London
Tel: +44 207 269 7206
E-mail: greg.quine@fd.com