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Glaverbel first quarter sales rise

Belgian glassmaker Glaverbel said its first quarter sales rose 13.6% to Euros 407 million and its operating result was expected to increase signficantly in 2000.
“The excellent performance recorded d…

Belgian glassmaker Glaverbel said its first quarter sales rose 13.6% to Euros 407 million and its operating result was expected to increase signficantly in 2000. “The excellent performance recorded during the first quarter enables forecasts for a significant improvement in operating results by the end of 2000 to be confirmed,” Glaverbel said in a statement. Glaverbel added that the first quarter sales increase was mainly generated by rising sales in the building sector. In terms of volume, sales of float glass rose 10%. Higher prices compensated for rising energy costs. “The group expects results to go on improving throughout the financial year, albeit within the limits of our manufacturing output which is currently at full capacity,” Glaverbel said. The new float glass plant in Sagunto, Spain, has had a problem-free start-up in production, according to the company. The price of float glass is expected to remain steady, despite the increased capacity.

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