Glaverbel Chodoglav, the European producer of flat and structural glass based in Northern Bohemia, posted a net last year of Kcs 710,000, against a Kcs 10 million loss in 1998, due to rising sales of …
Glaverbel Chodoglav, the European producer of flat and structural glass based in Northern Bohemia, posted a net last year of Kcs 710,000, against a Kcs 10 million loss in 1998, due to rising sales of its Chodopak product to Southeast Asia. Chodopak is used as a substitution for marmor and for the jacketing of buildings. According to the company, exports to Asia in 1998 fell due to the onset of an economic recession there. Sales grew 26% year-on-year to Kcs 76.5 million, against slightly over Kcs 60 million in 1998, and exports which went primarily to Hong Kong, Taiwan and China made up 85.5% of overall revenues and stood at Kc65m. Other export targets were Poland and Brasil. One third of the products is sold on Western European markets. Last year“s Chodopak production capacity was used at 50%, as the firm produced only 6 months in order to cut costs. At the end of April, Glaverbel Chodoglav is going to dismiss half of its 110 staff. Glaverbel Chodoglav is 100% owned by Glaverbel Czech, and its share capital amounts to Kcs 88 million.