Glaverbel Czech, the largest producer of flat glass in Central and Eastern Europe, saw its first-quarter sales by Czech accounting standards fall 4.87% year-on-year to CZK 1.82 billion, according to f…
Glaverbel Czech, the largest producer of flat glass in Central and Eastern Europe, saw its first-quarter sales by Czech accounting standards fall 4.87% year-on-year to CZK 1.82 billion, according to figures released by the firm. According to the Ariadna database, the company showed a profit of CZK 5.3 million in the period from January to March 2002. Sales were influenced particularly by the strong crown, which the firm estimates cost it some CZK 100 million in 2001. The overall share of exports among total sales dropped 4.8% year-on-year to 66.75% in the first quarter. Consolidated sales of the Glaverbel Czech Group, which also includes Splintex, Glaverbel Glavostav and another 19 companies based in the Czech Republic, Slovakia and Poland, were down 11.7% year-on-year to CZK 2.53 bn in the monitored period. The group“s exports fell 1.4% year-on-year, accounting for 72.47% of total sales. Glaverbel Czech, with 1,300 employees, is fully controlled by Glaverbel Group, a unit of Asahi Glass Co. Ltd., which at end 2001 announced plans to buy out the remaining shares of the Belgium-based Glaverbel and gain control over the company.