German glass manufacturer Schott AG generated a net profit of EUR 54 million (USD 63.2 million) for fiscal 2004/05 ended 30 September 2005 versus EUR 16 million (USD 18.7 million) for fiscal 2003/04, …
German glass manufacturer Schott AG generated a net profit of EUR 54 million (USD 63.2 million) for fiscal 2004/05 ended 30 September 2005 versus EUR 16 million (USD 18.7 million) for fiscal 2003/04, company CEO Udo Ungeheuer said on 30 November 2005. Sales fell EUR to 1.925 billion (USD 2.251 billion) from EUR 2.023 billion (USD 2.366 billion) a year before. Schott divested its non-core and unlucrative activities in a move to concentrate on household goods, optics, special glass tubes, pharmaceutical packaging and car parts. The company invested EUR 235 million (USD 274.9 million) in fixed assets in 2004/05, of which EUR 150 million (USD 175.4 million)was in Germany. Schott fully acquired Schott Solar, a joint venture of Schott and German utility RWE, as of 1 October 2005. In 2006, Schott plans to invest EUR 150 million (USD 175.4 million) and create 450 jobs at its glass processing site in Seoul, South Korea and its plant in Jena, eastern Germany. Schott aims to double the share of Asian sales in its overall sales to 30% by 2010. Schott, together with sister company Carl Zeiss AG, is wholly owned by Germany“s Carl-Zeiss foundation.