Vertex, the only producer of glass fiber and glass-fiber textiles in the Czech Republic, will invest CZK 2.5 billion to enlarge production facilities at Hodonice, South Moravia. The investment is the …
Vertex, the only producer of glass fiber and glass-fiber textiles in the Czech Republic, will invest CZK 2.5 billion to enlarge production facilities at Hodonice, South Moravia. The investment is the first in several years in a region suffering 17 % unemployment. Vertex, part of the French glass giant Saint-Gobain, plans to increase production capacity in Hodonice by 33%. Vertex will finance the investment from its own sources and 100 jobs will be created. The company now has two production facilities in the region,in Hodonice and Moravsky Krumlov and its 400 employees, make it one of the largest employers in the area. Vertex“s total investment will reach CZK 3 billion in 2003. In addition to the Hodonice facility, the firm is to put CZK 400 million into building a new assembly line at the parent company in Litomysl. In 2001, Vertex posted a net profit of CZK 664 million on sales of CZK 4.78 billion. In 2002, the firm expects to post CZK 770-800 million gross profits on sales of CZK 4.1 billion. Vertex employs 1,300 people.