25 March 1999: The Czech Republic“s Crystalex household glassware producer posted a Kcs 40 million gross profit last year, while a year earlier the company posted a Kcs 141 million loss, the first lo…
25 March 1999: The Czech Republic“s Crystalex household glassware producer posted a Kcs 40 million gross profit last year, while a year earlier the company posted a Kcs 141 million loss, the first loss in its history, according to general director Radek Zamrzla. Revenues last year fell 10% to Kcs 1.9 billion. The fall was due to a change in the production assortment and a new strategy for sales on the domestic market aimed at lowering the amount of claims, Zamrzla said. Exports last year amounted to Kcs 1.4 billion, about 5% more than in 1997. Among the biggest foreign buyers were EU countries, Japan, Canada and Australia. Exports are expected to grow this year as well and total revenues are to reach Kcs 2 billion. This year Crystalex will undergo an international audit which will raise its competitiveness on world markets. Crystalex“s majority owner since 1996 has been Porcela Plus company which together with Investicni a Postovni banka (IPB) increased its share capital by Kcs 400 million to Kcs 1.331 billion. Last year, Crystalex bought from Skloexport the German company Bohemia Cristal Selb, which will enable better access to West European markets. Additionally, the competition office UOHS last year approved a merger of the companies Crystalex, Sklarny Kavalier and Sklo Bohemia Svetla under the export company Bohemia Crystalex Trading. A strong group thus arose intending to export glass worth around Kcs 4 billion.