Belgian glassmaker Glaverbel announced a third-quarter sales decrease of 5% on the year-earlier figure. Sales revenue fell from BFr 9.3 billion to BFr 8.8 billion (US$ 283 million). In the first nine …
Belgian glassmaker Glaverbel announced a third-quarter sales decrease of 5% on the year-earlier figure. Sales revenue fell from BFr 9.3 billion to BFr 8.8 billion (US$ 283 million). In the first nine months of 1996, sales fell 4% from BFr 28.5 billion to BFr 27.2 billion, but were unchanged on a comparable structure basis and the company Glaverbel have said, however, that results have been showing improvements in the second half and that for 1996 as a whole results should be close to 1995 levels. Extraordinary results would be raised by the sale of a 41.76% stake in US glass group AFG Industries, resulting in a BFr 1.1 billion capital gain. The stake was sold to AFG“s majority shareholder Asahi Glass Co. Ltd. of Japan. Glaverbel hopes the new float line at its Czech subsidiary Glavunion will also help improve group results. The line was launched on 3 September.