Mexico's Vitro sees 5 pct rise in 2004 sales

Mexican glass maker Vitro said on Wednesday it expects sales to grow 5 percent in 2004 and EBITDA to rise 7 percent, amid greater demand for glass from the construction industry.

Finance director Alvaro Rodriguez said expected continued growth in the construction industry in Mexico and the United States will boost sales, regardless of whether the U.S. economy as a whole rebounds as expected."The construction sector is going to grow a lot, but we are not basing our plans on expectations for a great rebound in the U.S. economy," he told Reuters in a telephone interview.

He said cost reductions, especially in energy and personnel, also should help boost earnings before interest, taxes, depreciation and amortization (EBITDA).

On Tuesday Vitro reported sales of 6.263 billion pesos ($558 million) for the fourth quarter of last year, a drop of 0.9 percent from the 2002 period amid slower sales in some units.

600450 Mexico's Vitro sees 5 pct rise in 2004 sales glassonweb.com
Date: 26 February 2004
Source: Forbes.com

See more news about:

Others also read

The glass sector has the increasingly widespread requirement of having an unlimited catalogue of parametric shapes and creating new ones in a simple way without being an expert in the field.
Glass Confusion is starting the New Year with Beginning Fused Glass group classes. The three-week course will be held Wednesdays from 10 a.m. to 1 p.m. and again from 5 p.m. to 9 p.m.
Shoaib Akhtar is going to be back on Indian TV screens. He is going to be featured in the new TV ad campaign for Asahi Glass.
Worldwide glass-substrate capacity is expected to continue to grow more than 40% each quarter through 2005, as a result of capacity expansion by existing glass-substrate suppliers and new companies joining the market, according to DisplaySearch.
Western Pennsylvania’s once-thriving glassmaking industry is dwindling, as did the domestic steel industry and for many of the same reasons: competition and cost.
Christmas got a little bluer for the local glass industry this week with the closure of yet another plant.

Add new comment