Dutch glass producer Scheuten Glasgroep in Venlo, southern Netherlands, posted a net profit of EUR 5.0 million (USD 6.2 million) for 2003, compared to EUR 10 million (USD 12.4 million) in 2002, it was…
Dutch glass producer Scheuten Glasgroep in Venlo, southern Netherlands, posted a net profit of EUR 5.0 million (USD 6.2 million) for 2003, compared to EUR 10 million (USD 12.4 million) in 2002, it was reported on 6 March 2003. Scheuten, which employs 1,000, generated turnover of EUR 137 million (USD 170 million) in 2003, down by EUR 3.0 million (USD 3.7 million) compared to 2002. The company“s turnover in the Benelux countries increased year-on-year in 2003. The company expects a growth of its profit and sales in 2004, director Jacques Scheuten said. The fall in profit is mainly a result of the increased competition and unfavourable economic developments, Scheuten added. The profit was also affected by expenses which the company booked from the sale and closure of subsidiaries in the Netherlands. The company invested an additional EUR 1.5 million (USD 1.86 million) in research and development in 2003. Scheuten will shortly start building a research centre at the Trade Port West industrial area in Venlo. The company plans to increase its activities in the production of glass for the security and energy sectors. Scheuten cooperates with research and technology organisations and universities in Europe, including Dutch TNO and the University of Talin, in the the capital of Estonia. Scheuten has a solar division, which makes photovoltaic products. The division“s turnover will increase to EUR 30 million (USD 37.2 million) in 2004, up from EUR 8.0 million (USD 9.9 million) in 2003, Scheuten said.