28 May 1998: Vetrotex, the French producer of glass fibres, had a turnover of US$ 900 million in 1997, similar to that achieved in 1995 and 1996, according to a recent press report.
Vetrotex has 11 …
28 May 1998: Vetrotex, the French producer of glass fibres, had a turnover of US$ 900 million in 1997, similar to that achieved in 1995 and 1996, according to a recent press report. Vetrotex has 11 production units and a presence in 18 countries. 10% of sales came from Asia Pacific, 33% from North America and 50% from Europe. Investment totalled about 10% of turnover, and R&D 4%. In Europe, supply and demand have come back towards balance, despite a fall in prices, the report said. For 1998, the company predicts 3.7% growth in world demand for glass fibres, and 4% in European demand. It will start up new plants in Korea (textile fibres for the electronics industry), the US (products for thermoset resins) and Italy (short thermoplastic fibres). Asia represents 25% of the world market for glass fibres, and Vetrotex has an ongoing development programme there, focusing particularly on Japan. In China, it will start up a concrete reinforcement plant in 1998. Its operations in South America are being restructured.