Pilkington owner Nippon Sheet Glass returns to profit

Pilkington owner Nippon Sheet Glass (NSG) has returned to profit after enduring a torrid recession.The Japanese glassmaker yesterday announced a pre-tax profit of £25m for the year to March, after losing more than £500m in the 2009 and 2010 financial years.

Sales, however, were down 2% at £4.35bn, and it warned about the long-term consequences on trade from Japan’s recent earthquake.

The global downturn caused NSG to take drastic action, cutting 15% of its workforce with about 6,700 people leaving the group.

It made about 200 redundancies at its Merseyside operations, and there are now about 1,300 people employed at its production sites in St Helens and the European Technical Centre in Lathom, West Lancashire.

Read more below.

600450 Pilkington owner Nippon Sheet Glass returns to profit glassonweb.com
Date: 16 May 2011
Source: www.liverpooldailypost.co.uk

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