The company plans to end the year with revenue of EUR 58.2m, up almost 7%, with pre-tax profit slated to increase by about 15% to EUR 7.9m.

Revenue is expected to grow by 5% next year and profit by a tenth, the company said as it revealed its medium-term plans this week.

Lighting glass production will be abandoned because of the global shift towards LED lights and cheap imports from China.

Andrej Božič, the head of the glass division, said the company had tried hard to improve the economics of lighting glass but all of its attempts failed.

Faced with having to invest EUR 2.5m in upgrading a furnace next year, it decided instead to abandon the business.

The shift will free up capacity for the production of bottles. Not only will all 100 workers employed in the lighting glass division be retained, the company plans to hire an additional 150 workers in the long term.

Aside from streamlining its domestic operation, the company plans to invest EUR 70m in a plant in Poland, which will be a joint venture between its Swiss subsidiary and a Polish firm.

Andrej Božič, the company's former director, will be in charge of the joint venture, according to a report by Delo. Construction is slated to begin in 2019 and production is to start in 2020.