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Vitro unit gets contract in Spain, sees sales up
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A unit of Mexican glassmaker Vitro SA said on Wednesday it won a contract in Spain that will help the unit boost sales by 20 percent in 2003.
Vitro Cristalglass, Vitro's European subsidiary, was selected to supply glass for the construction of the Universal Culture Forum in Barcelona.
"With the 2004 Barcelona's Forum project, Vitro Cristalglass will generate close to 20 percent higher sales than last year," Fernando Flores, president of Vitro's flat glass division, said in a statement.
Vitro Cristalglass had sales of about $100 million in 2002, which accounted for about 8 percent of the flat glass business annual sales. Flat glass makes up 47 percent of Vitro's total sales, the company said.
Vitro shares fell 1.5 percent to 8.66 pesos in early afternoon trading at the Mexican stock exchange but its New York-traded shares rose 1.27 percent to $2.39.
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September 25th, 2003
Source: Forbes.com |
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