A recent report said that Atlantis of Portugal plans to sell its Marinha Grande glass factory, and that it has been offered to some foreign companies for about Esc 7 billion.
According to the report,…
A recent report said that Atlantis of Portugal plans to sell its Marinha Grande glass factory, and that it has been offered to some foreign companies for about Esc 7 billion. According to the report, Atlantis plans to concentrate its activity around crystal. Its glass activities have been making losses, with production outstripping demand, it said. The plant has stocks of about 50 million units. About a year ago Atlantis tried to sell its glass business to Belgium“s Durobor. However, Durobor decided not to go ahead. Atlantis chief Paulo Fernandes said the plant was not for sale. Atlantis“ profits were down 18% at Esc 259 million in the first half of this year. The company said the fall was due to investment of Esc 964 million in production and its retail chain. The second half of the year should be more profitable with a recovery in the company“s export markets and a seasonal increase in sales at the company“s retail outlets.