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Oberland Glas: profits down in 1998, no market upturn

24 June 1999: The German company Oberland Glas, which is 97% controlled by Saint-Gobain, saw turnover fall in 1998 to DM 648.1 million compared to DM 674.5 million in 1997. Pre-tax profits were also d…

24 June 1999: The German company Oberland Glas, which is 97% controlled by Saint-Gobain, saw turnover fall in 1998 to DM 648.1 million compared to DM 674.5 million in 1997. Pre-tax profits were also down in 1998 to DM 41.5 million from DM 45.3 million in 1997. According to a company statement, Oberland Glas claims modernization of production technology in recent years is now “paying off”. The company also said that the market picked up temporarily in 1998, but that the crisis in Russia, as well as the poor weather in the summer months that hit the beverage industry, led to weaker business in the second half of the year.

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