Polish plastic film producer Ergis 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 seeking to invest in the second line for the production of Greenstrap and will also acquire another line for the production of flexible printed packaging in Flexergis.
The company witnessed a net profit of €2.9m during the first six months of the current year, which it claimed was a seven-fold increase compared with the same period in 2013. Ergis also recorded more than €159.93m in revenues in 2013.
Four of the company's six production plants are located in Poland, while the other two are in Germany.
The company primarily produces food packaging (PVC and PET-based films and barrier laminates, as well as 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.