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Severosklo: first-quarter 2000 report

Severosklo of the Czech Republic, a producers of protective glass for welders, sold products worth more than Kcs 12 million in the first quarter of 2000, according to chief executive Josef Arnost.
“W…

Severosklo of the Czech Republic, a producers of protective glass for welders, sold products worth more than Kcs 12 million in the first quarter of 2000, according to chief executive Josef Arnost. “We have been in the black since the beginning of the year,” said Arnost. The company ended last year with profits of Kcs 3.2 million on sales of Kcs 56.25 million. Last year“s sales were down year-on-year due to a loss of outlets in Russia, as well as to a closedown of Severosklo“s plant which resulted in a reduction of the company“s workforce from 140 to 90 last year. Severosklo exports some 85% of its output to 45 countries of the world, mainly to the European Union and Eastern Europe. The company with share capital of Kcs 38.301 million is owned by Le Cygne Sportif group, which holds 47.93% of its shares. Another 10.86% is in the hands of U.R.E.F. Arnost added that Severosklo was planning to merge with companies Prior Trading and Prior Ceska republika. The merger should be approved by a general meeting on June 27. “If the general meeting approves the merger, Severosklo will be wound down without liquidation by the end of the year,” Arnost concluded.

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