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STV Glass: recent report

26 November 1998: The Czech Republic“s STV Glass of Valasske Mezirici, a producer of glass components for computer screens and monitors, posted a Kcs 58.18 million net profit last year on revenues of…

26 November 1998: The Czech Republic“s STV Glass of Valasske Mezirici, a producer of glass components for computer screens and monitors, posted a Kcs 58.18 million net profit last year on revenues of Kcs 802.98 million, said board chairman Jan Odstrcil. In the last two years, the company raised this production from 4.3 million to 6.3 million pieces, the result of the Kcs 900 million ongoing investment since 1996. In 1994, when east European markets fell apart, STV Glass lost its traditional clients but has since succeeded on west European markets. Currently around 90% of its production goes for exports. STV“s sole Czech trading partner is Tesla Ecimex which buys the remaining 10% of STV Glass products for its subsidiary TCT Roznov pod Radhostem. Among the biggest foreign buyers are Philips components Austria, and the British firms LGWA and Sony. Supplies have also started to Spain and Germany, Odstrcil said. The majority owner with 51% is the German firm Schott, one of the largest European companies active in the production and sale of glass components for industry. KBR Valasske Mezirici holds 49% of the shares. STV Glass with 550 employees has a Kcs 755 million share capital.

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