Belgian glassmaker Glaverbel said it sees its operating profits increasing in 2000, noting that glass prices had improved by year-end 1999.
“Given all this, the current year will see an increase in o…
Belgian glassmaker Glaverbel said it sees its operating profits increasing in 2000, noting that glass prices had improved by year-end 1999. “Given all this, the current year will see an increase in operating results, helped by the synergies made possible by the group“s new dimension,” Glaverbel said in statement. Glaverbel said a market recovery and resulting price increases in the building industry should help boost results in the sector. “In the automotive sector, the group is firmly resolved to raise the automotive glass productivity, benefiting from the technological lead conferred by its new coating equipment,” Glaverbel said. “The restructuring plan now under discussion at Splintex Fleurus will be a crucial element in improving the division performance as a whole,” it added. The company also said it sees continued improvements in its industries division. Glaverbel reported 1999 group net profit fell 39% to Euros 25.2 million. Operating income rose 14% to Euros 106.6 million.