22 April 1999: According to a recent report, Austrian glass packaging manufacturer Stoelzle Oberglas AG forecasts that 1999 will prove a difficult year, despite generating record turnover last year.
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22 April 1999: According to a recent report, Austrian glass packaging manufacturer Stoelzle Oberglas AG forecasts that 1999 will prove a difficult year, despite generating record turnover last year. The group“s two domestic plants at Koeflach and Baernbach, its three foreign subsidiaries in the UK, Germany and the Czech Republic and its three joint ventures increased aggregate turnover by 6% to Sch 1.8 billion in 1998. Since last November, however, Stoelzle Oberglas has been suffering a sharp drop in sales, particularly to cosmetics manufacturers, the report said. The company, nonetheless, has succeeded in maintaining sales to the pharmaceutical sector. Chairman Otto Mayer fears that glass packaging producers will also be adversely affected by the planned abolition by the EU of duty-free shopping. For 1999, Mayer forecasts only moderate growth of 4% to 5% in group turnover to approximately Sch 1.9 billion. He does not expect a significant upswing on the market for another two years. In the longer term, Stoelzle Oberglas said it plans to offer complete solutions in the area of packaging and accessories, bottling and distribution. Further acquisitions are planned in Europe, Asia and Brazil during 1999.