Group turnover of Switzerland“s only manufacturer of glass packaging, Vetropack, fell slightly to SFr 410 million in 1995 (from SFr 413 million in 1994). The group succeeded in maintaining turnover o…
Group turnover of Switzerland“s only manufacturer of glass packaging, Vetropack, fell slightly to SFr 410 million in 1995 (from SFr 413 million in 1994). The group succeeded in maintaining turnover on the domestic market despite increased pressure on margins. Turnover rose in the Czech Republic, where Vetropack Moravia Glass has operated its production plant since 1991, whereas sales in Austria fell. Finance director Rudolf Boesch attributed this to Austria“s accession to the EU, which resulted in increased imports of bottled foodstuffs and drinks. Nevertheless, Vetropack“s three plants boosted exports to 556 million (516 million) units. Group net profits for 1995 were slightly lower at SFr 9.6 million (SFr 9.8 million). Despite stagnant turnover, cash flow rose sharply to SFr 63.9 million (SFr 53.8 million). This enabled the group significantly to expand capital investments to SFr 44.1 million. The parent company, Vetropack Holding AG of St-Prex, posted a marginally improved net profit of SFr 7.4 million last year and an unchanged dividend of 28% is expected to be approved at the AGM. In addition, the Vetropack Moravia Glass (VMG) Kyjov glassworks, this year, plans to repair 500 sets of glass moulds in a newly built central repair shop, spokeswoman Nada Dolejska said. The repair shop was put into operation this March, and its capacity will be fully used in July. The repair shop “is to repair moulds for all Vetropack glassworks: for the Swiss firms Buelach and St-Prex; the Austrian Poechlarn and Kremsmuenster; and the Kyjov VMG” she said. Furthermore, as part of its strategy of focusing on glass packaging and Eastern Euorpean activities, Vetropack is to sell Claropac AG to Altoplast AG. Altoplast manufactures plastic containers for the drinks sector.