Glass maker celebrates as sales increase by 93%

Specialist  glass manufacturer Romag has marked the end of a year of growth and expansion by revealing profits have risen by more than a third.

And although the County Durham company said it could not make any long-term guarantees for growth due to the volatility of the market, Romag said it remains “confident” for its prospects in the medium term.

Over the past year, Romag’s strong growth has continued across its range of products, with sales increasing 93 per cent to £33.6m, and pre-tax profits rising 35 per cent to £3.7m.

Its photovoltaic glass range, PowerGlaz – which over the past year has been used in Heathrow’s Terminal 5 and St Pancras Station in London – has continued its phenomenal progress, with two extra production lines now installed in Romag’s Consett headquarters to help meet increasing global demand.

The move created 40 jobs.

Yesterday, the company revealed it has signed an agreement with the Dubai-based Gulf International Trading Group to market its products in the Middle East.

The company said that exports are a key market for the future of the business, accounting for more than 80 per cent of Romag’s sales.

John Kennair, chairman of Romag, said that while the longer-term market for its product is harder to predict due to the global downturn, the medium-term prospects for the company look good.

Read the full story.

600450 Glass maker celebrates as sales increase by 93%
Date: 18 December 2008

See more news about:

Others also read

Insulation giant Saint-Gobain Isover is inviting submissions for its 2009 international architectural student competition which has prize money totalling €6,500 at stake.
We thank all our visitors, members and friends for being part of our site during 2008. We’ve loved having you here. We would like to wish you Merry Christmas and a happy New Year.
On 11 December 2008 the only producer of glass packaging in Slovakia, Vetropack Nemsova, a subsidiary of Vetropack Holding of Switzerland, launched a new automated line for sorting glass cullet, worth SKK 170mn (EUR 5.61mn USD 7.51mn).
Saint-Gobain Containers shut down its second furnace Monday in the second phase of a temporary layoff at the glass plant as a result of economic pressures.
As a result of the extreme devaluation of the Ukrainian hryvnia (UAH) against the US dollar, the Vetropack Group has adjusted downwards its expectations for the current 2008 financial year.
Nuova Oxidal in cooperation with Politecnico di Milano and Texs consortium is organizing a specialization course for project, furnishing and building up of temporary spaces.

Add new comment