22 October 1998: For the first six months of 1998, Belgium“s Glaverbel Group reported that, with production plants operating at full capacity and against a favourable economic background, it had achi…
22 October 1998: For the first six months of 1998, Belgium“s Glaverbel Group reported that, with production plants operating at full capacity and against a favourable economic background, it had achieved significant growth compared to the corresponding period in 1997. Glaverbel said that the increase was mainly due to a marked improvement in processing activities and to gains in productivity which have resulted from the group“s on-going cost-cutting programme. Although no price increases have been implemented, Glaverbel has seen a 60% increase in EPS. Sales for the first half-year rose 7% to BFr 22.873 billion (1997 first-half: BFr 21.359 billion) and net consolidated income totalled BFr 1.112 billion, a 67% improvement. Industrial investments amounted to BFr 1.503 billion, BFr 941 million less than in 1997. A third of these investments were in the automotive sector, the remaining two thirds were allocated to the installation of pyrolitic-coated anti-solar glass production equipment in the Czech Republic and to the re-engineering of IT systems. For the second half of 1998, Glaverbel says it expects further growth as a result of the positive overall effects (after financial charges) of the integration of PPG Glass Europe activities as of 1 September 1998, improved performance in the automotive sector (with added capacity at the group“s Splintex Czech unit), and the buoyant state of the construction market.