Czech glass producer Glavunion Teplice a.s is planning to use last year“s Czk 135-million pre-tax profits for investments, general director Stepan Popovic has announced.
The company“s turnover tota…
Czech glass producer Glavunion Teplice a.s is planning to use last year“s Czk 135-million pre-tax profits for investments, general director Stepan Popovic has announced. The company“s turnover totalled Czk 5.2 billion last year, which was Czk 1 billion more than in 1994. 1995 revenues were up to Czk 5.2 billion from Czk 4.2 billion in 1994. Total assets were increased to Czk 9.1 billion from Czk 7.6 billion in 1994. Exports amounted to two-thirds of the output both in 1994 and 1995. The biggest foreign customer was Germany. Turnover is expected to be the same this year, although an investment will be made in the reconstruction of a flat float glass line worth Czk 2 billion. Glavunion has also said that it has started work on a Czk 1.9 billion project to modernise a float glass facility at its Retenice plant. The project, which is due to be completed in August, will boost daily output from 320 tonnes to 600 tonnes, enabling the company to keep pace with demand. The sheet glass maker is 62.04% owned by Belgium“s Glaverbel S.A., while Czech holding company Sklo Union a.s. holds a 26.85% stake in the firm, and Glaverbel Capital Luxembourg has an 11.06% share.