German Flachglas AG is expecting improved profits for 1995/96 (year to the end of March) thanks to internal rationalisation. In 1994/95 profits rose by 68% to DM 109.5 million. Turnover is expected to…
German Flachglas AG is expecting improved profits for 1995/96 (year to the end of March) thanks to internal rationalisation. In 1994/95 profits rose by 68% to DM 109.5 million. Turnover is expected to be almost unchanged from last year“s DM 1.77 billion. Flachglas also expects positive development in 1996/97. Low interest rates make director Dietrich Fritz optimistic, in spite of a downturn in planning approvals and general uncertainty in the market. The group“s glass production is now spread over 65 locations in Germany. Over the coming months the number of employees at the parent company is expected to fall by 5% from 3,600. The group had 8,600 employees in 1994/95. Flachglas is owned 95% by Pilkington of the UK via Dahlbusch Verwaltungs-AG. Through Pilkington, Flachglas has won a DM 29.7 million contract for glazing in the terminal building of the new Hong Kong airport.