Germany: Glasseiden posts EUR 62 million turnover for 2002

German fiberglass mats producer Glasseiden GmbH reported turnover of EUR 62 million (USD 66.9 million) for 2002.
No comparative figures were available. Glasseiden manufactures 20,000 tonnes of glass …

German fiberglass mats producer Glasseiden GmbH reported turnover of EUR 62 million (USD 66.9 million) for 2002. No comparative figures were available. Glasseiden manufactures 20,000 tonnes of glass mat per annum for the automobile, construction and entertainment industries. 60% of its annual output goes to the USA, Canada, China and Japan. Owing to full order books the company Glasseiden anticipates turnover growth for 2003 the said company managing director Wilfried Queisser on 6 February 2003. Glasseiden was spun off from German fiber optics producer Preiss-Daimler Group in 1993 and has since returned to profitability. Glasseiden has invested EUR 35 million (USD 37.8 million) in technology since 1993 with the aim of concentrating its activities in niche markets, where it operates most successfully. In 1996, the company set up a subsidiary with 350 employees in Latvia, which specializes in insulation materials. Glasseiden set up a joint venture in China in 2001.