7 May 1998: The Brazilian glass factory Santa Marina registered a sales drop of approximately 15% in the first quarter, in comparison with the net revenue of R$ 130 million from the same period in 199…
7 May 1998: The Brazilian glass factory Santa Marina registered a sales drop of approximately 15% in the first quarter, in comparison with the net revenue of R$ 130 million from the same period in 1997. It maintained, however, its plans to invest in 1998 R$ 80 million in modernization and expansion. The group will reportedly conclude a project initiated four years ago, which involved R$ 300 million until the end of 1997. However, in the long term, Santa Marina said it does not exclude the possibility to evaluate the production of alternative materials to glass, such as polycarbonate, a plastic being tested in Japan for automobile use. Jean-Claude Guy Breffort, president of the group, attributes the performance of the period to the reduced consumption of drinks, automobiles and domestic appliances, the main destinations of the products. But he projects that, in volume, the group will sell 7% more in 1998 than in 1997. The performance would not be accompanied by a similar evolution of revenues, due to the price drop registered in the market.